Redishred closes C$8.6 million bought deal financing

Torys acted as counsel to the syndicate of underwriters co-led by Acumen Capital Finance and Echelon Capital Markets with a team that included Scott Cochlan, Mike Pedlow, and Jon McDonald (corporate/securities).

On December 23, 2021, Redishred Capital Corp. ("Redishred") announce the closing of its previously announced bought deal public offering of common shares through a syndicate of underwriters co-led by Acumen Capital Finance Partners Limited ("Acumen") and Echelon Capital Markets and including Cormark Securities Inc. and PI Financial Corp. Acumen acted as sole bookrunner on the offering.

Pursuant to the offering, Redishred issued 9,803,750 common shares, including 1,278,750 shares issued pursuant to the exercise, in full, of the underwriters’ over-allotment option, at a price of C$0.88 per share for gross proceeds to Redishred of approximately C$8.6 million.

Redishred expects to use the net proceeds from the offering to conduct future acquisitions, repay indebtedness related to past acquisitions and for general corporate purposes.

Further information can be found on Accesswire’s website.

Redishred is the owner of the PROSHRED® trademarks and intellectual property in the United States and Internationally. PROSHRED® shreds and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors.