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VANCOUVER, BC, Oct. 11, 2024 /CNW/ - Kits Eyecare Ltd. (TSX: KITS) ("KITS" or the "Company"), a leading vertically integrated eyecare provider, is pleased to announce the closing of the over-allotment option (the "Over-Allotment Option") in connection with its previously announced secondary offering of common shares of the Company (the "Common Shares"). Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, together with Beacon Securities Limited, as co-lead underwriter, on behalf of a syndicate of underwriters (collectively, the "Underwriters") elected to exercise the Over-Allotment Option in full and purchased, on a bought deal basis, an aggregate of 168,750 additional Common Shares held by 0999849 B.C. Ltd, an entity controlled by Roger Hardy (the "Hardy Shareholder"), LD Group Holdings Ltd., an entity controlled by Arshil Abdulla ("LD Group") and Joseph Thompson (together with the Hardy Shareholder and LD Group, the "Selling Securityholders") at a price of $10.15 per share for total gross proceeds to the Selling Securityholders of $1,712,812.50. KITS did not receive any proceeds from the Over-Allotment Option.
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