Exro Technologies (TSX.V: EXRO) (OTCQB: EXROF), a leading clean technology company that has developed a new class of power electronics for electric motors and batteries, has entered into an amended underwriting agreement in connection with its previously announced $17.5 million bought deal financing. The company announced that, under the original agreement, the underwriters in the financing were set to receive broker’s compensation warrants equal to 6% of the number of units sold in the financing with those warrants exercisable at the $1.60 offering price to buy units consisting of one common share and one-half of a share purchase warrant, with each whole warrant exercisable for an additional common share for $2; that agreement was for 36 months following closing. The amended underwriting agreement calls for broker’s compensation warrants to be exercisable for one common share at a price of $1.60 per common share with no entitlement to receive any underlying share purchase warrants.
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About Exro Technologies Inc.
Exro is a clean-technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators and batteries. Exro enables the application to achieve more with less energy consumed. The company’s advanced motor control technology, the Coil Driver(TM) , expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring its technology to the electric mobility industries and beyond. For more information about the company, please visit www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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