Charge enterprises enters into securities purchase agreement with island capital group llc

New york, ny / accesswire / april 22, 2022 / charge enterprises inc. (nasdaq:crge) ("charge"), consisting of a portfolio of global businesses with the vision of connecting people everywhere with communications and electric-vehicle charging ("ev") infrastructure, today announced it has entered into a securities purchase agreement with an investment vehicle controlled by island capital group llc ("island capital"), a merchant bank with synergistic investing and advisory platforms specializing in real estate and real estate related transactions, that provides for the issuance of up to approximately 1.4 million shares of charge common stock at a price of $7 per share, totaling gross proceeds of a minimum of $7.5 million and a maximum of $10 million. the securities purchase agreement also provides for the issuance of warrants to purchase up to 2 million shares of charge's common stock with an exercise price of $8.50 per share with a three-year term.
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