![]() |
Today's News |
Tiny Closes Previously Announced $4.86 Million Private Placement Financing with Letterboxd Founders
Wednesday, October 11, 2023Company Profile | Follow Company
Vancouver, BC, October 10, 2023--(T-Net)--Tiny Ltd. (TSXV: TINY), a technology holding company based in Victoria, BC, announced today that it has closed its previously announced private placement whereby the founders of Letterboxd subscribed for a total of 1,430,346 Class A common shares of Tiny at a price of $3.40 per Common Share for gross proceeds to Tiny of $4.86 million.
The proceeds of the Private Placement are expected to be used for working capital and general corporate purposes. No finder's fees or commissions will be paid in connection with the Private Placement.
The Common Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from closing in accordance with applicable securities laws.
For additional details, please see the Company's press release of September 29, 2023, Tiny Announces Majority Acquisition of Letterboxd.
About Tiny
Tiny is a Canadian-based investment company focused primarily on investing and acquiring majority stakes in businesses that it expects to hold over the long-term. The Company is structured to give maximum flexibility to operating management teams by maintaining a focus at the parent company level on only three areas: capital allocation, management, and incentives. This structure enables each company to run independently and focus on what they do best, within an incentive structure that is designed to drive results for both the operating business and ultimately for Tiny and its shareholders.
Tiny currently has three principle reporting segments: Digital Services, which provides design, engineering, brand positioning and marketing services to help companies of all sizes deliver premium web and mobile products; E-Commerce Platform, which is home to a complementary portfolio of recurring revenue software businesses that support merchants, as well as digital themes businesses that sell templates to Shopify merchants; and Creative Platform, which is comprised primarily of Dribbble, the leading social network for designers and digital creatives, as well as a premier online marketplace for digital assets such as fonts and templates.
Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and forward-looking statements in this press release includes, but is not limited to information and statements regarding the business objectives and plans of the combined entity. Investors are cautioned that forward-looking statements are not based on historical facts, but instead reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. [ MORE ] |
Company Snapshot |
||
![]() |
Victoria (Non-Tech Sectors)
|
Other Recent Company News ![]() |
|||||||||||||||||||
|