Blackline completes bought deal financing
On June 12, 2024, Blackline Safety Corp. ("Blackline") announced the closing of its previously announced bought deal short-form prospectus offering of common shares of Blackline.
The offering was conducted through a syndicate of underwriters led by Canaccord Genuity and included ATB Securities Inc., Ventum Financial Corp., National Bank Financial Inc., Raymond James Ltd., TD Securities Inc., Beacon Securities Limited and Lightyear Capital Inc. (the “Underwriters”). Blackline issued a total of 5,692,500 common shares at an issue price of C$4.05 per common share for aggregate gross proceeds of approximately C$23 million, which included 742,500 common shares issued pursuant to the full exercise of the over-allotment option granted to the Underwriters.
Blackline intends to use the proceeds to add capacity to support Blackline’s equipment leasing program, as well as to support the application of artificial intelligence to its 225 billion points of customer worksite data, and for general corporate and working capital purposes.
Further information can be found on Business Wire’s website.
Blackline Safety is a technology leader driving innovation in the industrial workforce through IoT (Internet of Things).