UPDATE – IPO was withdrawn on April 2, 2019
American Aires Inc. has re-filed a preliminary prospectus in connection with a proposed initial public offering (IPO).
The offering particulars remain almost the same. It intends to raise a minimum of $7,200,000 for 24,000,000 common shares at $0.30 per share or $7,560,000 for 25,200,000 common shares in the event the maximum offering is completed (instead of the over-allotment option being fully exercised).
Richardson GMP Limited, Irwin Lowy LLP and Getz Prince Wells LLP continue to act as underwriter and legal counsels to American Aires and the agent respectively.
American Aires previously filed its preliminary IPO prospectus on June 18, 2018, withdrew the offering on October 19, 2018.
Vaughan, Ontario based American Aires Inc. is engaged in the business of production, distribution and sales of devices intended to protect persons from the harmful effects of electromagnetic emissions that are emitted by modern electronic devices.
Dimitry Serov, President & CEO, and Igor Serov, President of St. Petersburg, Russia based Aires Research, are the two largest shareholders controlling approximately 37.4% and 12.5% of the outstanding shares respectively.
photo credit: American Aires