Versus Systems Inc, a prominent engagement and rewards company, declared a significant milestone today with the announcement of a strategic investment from Cronus Equity Capital Group, LLC (CECG). This investment has sparked a remarkable uptick in Versus Systems’ stock, experiencing a surge from its Wednesday closing value of $0.16 to an impressive $0.25 in Friday morning trading.
At the time of this publication, Versus Systems Inc stock (VS) has witnessed a surge.
Versus Systems Inc
Current Price: $0.27
Change : +0.10
Change (%): (59.52%)
Volume: 104.0M
Source: Tomorrow Events Market Data
The substantial investment entails the issuance of up to 24,727,361 common shares of Versus to CECG, amounting to approximately 51% of the company’s total issued and outstanding common shares. Notably, the First Tranche, consisting of 15,838,441 common shares, was officially issued to CECG on November 22, 2023. The Second Tranche, totaling 8,888,920 common shares, is anticipated to be completed and issued to CECG in the coming week.
In adherence to the agreement, CECG acquired the First Tranche at a price of $0.1618 per share, reflecting a premium over the five-day average Nasdaq Official Closing Price of $0.1578 per share. This transaction amounted to a substantial USD $2,562,659.76. The forthcoming issuance of the Second Tranche will also be executed at the same per-share price.
Crucially, this transaction did not involve any warrants, underscoring the straightforward nature of the investment. The absence of warrants distinguishes this investment as a straightforward equity transaction, with CECG securing a substantial ownership stake in Versus Systems.
Past Performance of Versus Systems Stock:
Over the past five days, the stock has surged by an impressive 69.77%, demonstrating the positive market response to the news. Looking at a broader timeframe, the one-month performance showcases a remarkable 63.56% increase. However, the three-month performance reveals a modest decline of -15.86%, indicating some short-term fluctuations. On a year-to-date basis, the stock has experienced a substantial decrease of -44.72%, reflecting challenges and fluctuations in the market throughout the year. The one-year performance further underscores a significant downturn, with a staggering -87.80% decline.
