Mogo Raises $54M Via Equity For Coinsquare Acquisition - Mogo (NASDAQ:MOGO)

Mogo Inc. (NASDAQ: MOGO) priced 5.34 million shares at $10.10 per share to raise $54 million in a secondary offering.
The offer price signifies a 6.2% discount to the Friday closing price of $10.77.
The offering proceeds will be partly used to fund the cash component of Coinsquare acquisition and the remaining for general corporate and working capital purposes.
The company has also issued unregistered warrants to purchase up to 2.67 million shares at an exercise price of $11 per share in a concurrent private placement.
Mogo posted a robust bitcoin transaction volume in January. The share prices have climbed 399% in the last quarter.
The offering is expected to close by February 24, 2021.
H.C. Wainwright & Co. is the placement agent for the offering.
Price action: MOGO shares are down 12.1% at $9.47 in the pre-market session on the last check Monday.