TORONTO, April 1, 2021 /CNW/ - Apolo IV Acquisition
Corp. (the "Company") (TSXV: AIV.P) is pleased to
announce that on April 1, 2021 it
completed an initial public offering (the "Offering") in
Ontario, British Columbia and Alberta of 7,500,000 common shares ("Common
Shares") in the capital of the Company at a price of $0.10 per Common Share for gross proceeds of
$750,000 pursuant to a final
prospectus dated March 10, 2021 (the
"Prospectus").
Canaccord Genuity Corp. (the "Agent") acted as agent in the
Offering, in connection with which it received a cash commission
equal to 10% of the gross proceeds of the Offering and an
administrative fee. In addition, an aggregate of 750,000 agent's
warrants were issued to the Agent and its selling group, each such
agent's warrant entitling the holder to acquire one Common Share at
an exercise price of $0.10 expiring
60 months from the date that the Common Shares are listed on the
TSX Venture Exchange (the "TSXV").
At the closing of the Offering, the Company also granted stock
options (the "Options") to directors of the Company to acquire up
to an aggregate of 750,000 Common Shares. Each Option is
exercisable to acquire one Common Share at a price of $0.10 any time prior to April 1, 2031.
Following completion of the Offering, the Company has 20,000,000
Common Shares issued and outstanding, 12,500,000 of which are
subject to escrow restrictions as disclosed in the
Prospectus. The TSXV has accepted the Company's listing
application and the Common Shares were listed on the TSXV at the
close of business on March 31, 2021.
The Company's Common Shares will commence trading on the TSXV at
the opening of business on Thursday, April
1, 2021, under the symbol "AIV.P".
For further information please see the Prospectus, available
under the Company's profile on SEDAR at www.sedar.com.
About the Company
The Company is a capital pool company ("CPC") within the meaning
of the policies of the TSXV that has not commenced commercial
operations and has no assets other than cash. The current directors
and officers of the Company are: Ryan
Roebuck (CEO, CFO and Director), Stephen Arbib (Corporate Secretary),
Michael Galego (Director) and
Michael Young (Director). Except as
specifically contemplated in the CPC policies of the TSXV, until
the completion of its "Qualifying Transaction" (as defined
therein), the Company will not carry on business, other than the
identification and evaluation of companies, business or assets with
a view to completing a proposed "Qualifying Transaction".
On Behalf of the Board of Directors of Apolo IV
Acquisition Corp.
Ryan Roebuck
CEO,
CFO and Director
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release includes forward-looking statements that
are subject to risks and uncertainties. All statements within,
other than statements of historical fact, are to be considered
forward looking. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, continued
availability of capital and financing, and general economic, market
or business conditions. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. We do not
assume any obligation to update any forward-looking
statements.
SOURCE Apolo IV Acquisition Corp.