- Vecima Networks has announced an offering of shares for gross proceeds of approximately $9,000,000
- Vecima Networks (VCM) has agreed to offer 507,100 common shares at $17.75 per share
- Net proceeds will be used to repay the line of credit
- The offering is expected to close on or about December 14, 2022
- Vecima Networks Inc. delivers software, services and integrated technologies for broadband access, content delivery, and telematics
- Vecima Networks Inc. (VCM) opened trading at C$19.76
Vecima Networks (VCM) has announced an offering of 507,100 common shares at $17.75 per share for gross proceeds of approximately $9M.
In addition, Vecima Networks has granted the agents (Raymond James Ltd. and Cormark Securities Inc.) an option to offer for sale 56,280 additional shares. In the event the over-allotment option is fully exercised, the total gross proceeds will be approximately $10 million. The agents have agreed to purchase unsold common shares on the closing date at the issue price.
Net proceeds will be used to repay the company’s line of credit.
The offering is expected to close on or about December 14, 2022, and is subject to the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.
Vecima Networks Inc. delivers scalable software, services, and integrated technologies for broadband access, content delivery, and telematics.
Vecima Networks Inc. (VCM) opened trading at C$19.76.
