Transactions

Transactions

Overview

Ruckify Completes Private Placement and Enters Definitive Agreement with Apolo to Complete Qualifying Transaction

December 22, 2020

On December 15, 2020, Ruckify Inc. (“Ruckify”) completed a private placement of common shares in the capital of Ruckify (“Common Shares”) for gross proceeds of approximately $6.9 million. The brokered portion of the offering was led by Eight Capital.

Further, Ruckify and Apolo III Acquisition Corp. (“Apolo”) have entered into a definitive amalgamation agreement pursuant to which the parties will complete a business combination. The transaction will result in a reverse take-over of Apolo by Ruckify and will constitute Apolo’s “Qualifying Transaction” (as defined in the TSX Venture Exchange Corporate Finance Manual). Pursuant to the transaction, Ruckify and a wholly-owned subsidiary of Apolo will amalgamate to form a new amalgamated company, and upon such amalgamation, holders of Common Shares will receive one post-consolidation Apolo common share for each Common Share held.

Wildeboer Dellelce LLP acted for Eight Capital in connection with the private placement offering and acted for Apolo in connection with entering into the definitive agreement for the qualifying transaction with a team comprised of Jeff Hergott, Patricia Good and Jessica Coco (corporate/securities).