Blackline closes bought deal private placement and full exercise of over-allotment option
On October 22, 2018, Blackline Safety Corp. ("Blackline") announced that it closed its previously announced bought deal private placement through a syndicate of underwriters led by Raymond James Ltd. and including Lightyear Capital Inc., PI Financial Corp. and Beacon Securities Limited, issuing a total of 6,325,000 common shares of Blackline at an issue price of C$5.00 per share for gross proceeds of C$31,625,000, which included the sale of 825,000 common shares pursuant to the full exercise of the over-allotment option granted to the underwriters in connection with the offering.
Blackline intends to use the net proceeds of the offering to support the accelerated growth of its international sales network, to fund potential accretive acquisition opportunities as well as general corporate purposes.
Blackline Safety is a global connected safety technology leader, providing comprehensive live-monitoring and wireless gas detection to help teams working in hazardous environments respond to emergencies in real-time and manage efficient evacuations, accounting for everyone's safety along the way.
Further information can be found on Globe Newswire's website.