American Aires re-files for IPO on CSE once again

American Aires Inc. has re-filed a preliminary long form prospectus in connection with its proposed initial public offering (IPO).

The offering particulars remain the same from its previous filing. American Aires 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).

Canaccord Genuity Corp will act the underwriter, replacing Richardson GMP Limited. Irwin Lowy LLP and Getz Prince Wells LLP continue to act legal counsels to American Aires and the agent respectively.

American Aires previously filed its preliminary prospectus on June 18, 2018, withdrew the offering on October 19, 2018. It re-filed on the preliminary prospectus on December 20, 2018 only to withdraw once again on April 2, 2019.

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.

Serov Holding Inc., a company controlled by CEO Dimitry Serov and Igor Serov, President of St. Petersburg, Russia based Aires Research, is the single largest shareholder controlling approximately 46.6% of pre-IPO outstanding shares.

photo credit: American Aires