DIRTT completes bought deal financing
On June 4, 2015, DIRTT Environmental Solutions Ltd. (DIRTT) announced the completion of its previously announced "bought deal" offering of common shares through a syndicate of underwriters led by Raymond James Ltd. and including National Bank Financial Inc., Cormark Securities Inc., Paradigm Capital Inc., Laurentian Bank Securities Inc., Beacon Securities Limited and Haywood Securities Inc. An aggregate of 5,175,000 common shares were issued at an offering price of C$8.35 per common share for total gross proceeds to DIRTT of C$43,211,250, which included the exercise in full of the over-allotment option granted to the underwriters.
The net proceeds of the offering will be used to fund product development, ongoing development of DIRTT's proprietary ICE® software and new sales and business development initiatives, for working capital purposes and to satisfy any future bonding requirements with respect to major projects.
DIRTT Environmental Solutions (Doing It Right This Time) uses its proprietary 3D software to design, manufacture and install fully customized prefabricated interiors.
Further information can be found on Stockhouse's website.