Vancouver, Canada-based capital pool company Crystal Bridge Enterprises Inc. is looking to raise a total of C$535,000 in gross proceeds from an initial public offering of 2 million common shares and a private placement of 3,350,000 common shares.
The shares are being sold at 10 Canadian cents per share. The company expects C$200,000 in gross proceeds from the public offering. For the private placement, the company will sell the common shares to subscribers, which may include certain officers and directors of the company, for gross proceeds of C$335,000, if fully subscribed.
Closing of the public offering is not conditional upon the closing of the private placement.
The company will use the net proceeds from the public offering and the private placement, together with C$158,000 the company raised in a previous public offering of 3,160,000 common shares, totaling C$677,000, to identify and evaluate assets or businesses for acquisition with a view to completing a qualifying transaction.