Blackline closes bought deal offering
On August 31, 2022, Blackline Safety Corp. ("Blackline") announced the closing of its previously announced bought deal short-form prospectus offering in which it issued a total of 5,405,885 shares at an issue price of C$2.20 per share for aggregate gross proceeds of C$11,892,947, including 625,885 shares issued pursuant to the exercise of the over-allotment option granted to the underwriters in connection with the offering.
The offering was conducted through a syndicate of underwriters led by PI Financial Corp. that included ATB Capital Markets Inc., Canaccord Genuity Corp., National Bank Financial Inc., TD Securities Inc., Raymond James Ltd., Echelon Wealth Partners Inc., Beacon Securities Limited, Peters & Co. Limited and Lightyear Capital Inc.
Blackline intends to use the net proceeds from the offering, and a concurrently completed non-brokered private placement, to fund its general and administrative, sales and marketing and research and development expenses, as well as for general corporate purposes.
Further information can be found on Globe Newswire’s website.
Blackline is a technology leader driving innovation in the industrial workforce through IoT. With connected safety devices and predictive analytics, Blackline enables companies to drive towards zero safety incidents and improved operational performance.