Financings

Thermopylae Capital Inc. Announces Closing of Initial Public Offering

By The Northwire Desk — AI Analysis Mar 23, 2026 · 13:27 THY · 102.75 THUNDER ENERGY INC.

THY · Price

Thermopylae Capital Inc. completed its IPO, raising gross proceeds of $333,000 by issuing 3,330,000 common shares at $0.10 per share.
Net proceeds will be used to identify and evaluate assets or businesses for a qualifying transaction under the TSXV capital pool company program.
The shares are conditionally approved for listing on the TSX Venture Exchange (symbol “THY”), with trading expected to commence shortly after the March 23, 2026 halt lift.

Offering Size: 3,330,000 common shares sold at $0.10 per share → gross proceeds of $333,000.
Agent & Fees: Leede Financial Inc. acted as agent; received a cash commission equal to 10% of gross proceeds, a corporate finance fee, and non‑transferable warrants for up to 330,000 shares at $0.10 per share (five‑year term).
Post‑Offering Share Count: Total outstanding shares increased to 6,130,000; directors, officers, and seed shareholders hold shares subject to escrow restrictions.
Use of Proceeds: Combined with existing working capital, proceeds will fund the identification and evaluation of acquisition targets to complete a “Qualifying Transaction” under TSXV CPC rules.
Management Updates: Nicholas (Nick) Demos appointed President; current directors listed as Dr. Ken (Kyriakos) Matziorinis, Véronique Laberge, Vasilios (Bill) Mavridis, and Edward Ierfino.
Listing Details: Shares conditionally approved for TSXV listing under ticker “THY”; currently halted with expected lift and trading commencement on March 23, 2026.
Early Warning Report: Disclosure of significant shareholder Nicholas Aristotle Demos’ ownership change—from 75% pre‑offering to ~34% post‑offering (non‑diluted basis).

“Today marks an exciting new chapter for Thermopylae Capital,” – Nicholas (Nick) Demos, President.
“We are deeply grateful… our team is energized and focused on identifying a standout Qualifying Transaction,” – Ken (Kyriakos) Matziorinis, CEO & Director.