DIRTT completes bought deal secondary offering

On June 17, 2014, DIRTT Environmental Solutions Ltd. (DIRTT) completed its previously announced secondary offering of common shares held by Clean Technology Fund II LP, Export Development Canada, Kayne Anderson Mezzanine Partners QP LP, Kayne Anderson Mezzanine Partners LP and Kampo U.S. LP. A total of 7,155,594 common shares were sold to a syndicate of underwriters led by Raymond James Ltd., at an offering price of C$2.60 per common share, for total gross proceeds to the selling shareholders of C$18,604,544.40, which included the exercise in full of the over-allotment option granted to the underwriters.

The offering resulted in the conversion of US$5,154,927.40 of principal and accrued interest outstanding on the company's 14-per-cent senior subordinated convertible notes, which were held by certain of the selling shareholders.

DIRTT is a leading technology-driven manufacturer of highly customized interiors.

Further information can be found on DIRTT's website.