- Aurora Solar Technologies (ACU) provides updates on BT Imaging acquisition and announces a new non-brokered private placement for proceeds of up to $2,000,000
- The net proceeds of the placement will be used for the acquisition and associated transaction costs
- All securities issued in connection with the new offering will be subject to a four-month statutory hold period
- Aurora Solar Technologies (ACU) is in the grey, trading at 11:38 am EST
Aurora Solar Technologies Inc. (ACU) expects to close its BT Imaging acquisition around July 29 of this year.
“With this acquisition, Aurora gains a best-in-class business with accretive annual sales and positive net cash flow,” said Gordon Deans, Aurora’s President and CEO.
“The acquisition will accelerate Aurora’s growth by combining complementary quality control tools with Aurora’s Insight data science platform,” added Deans.
Aurora also has announced a non-brokered private placement of units for proceeds of up to $2,000,000.
The net proceeds will be used for the acquisition and associated transaction costs.
Aurora will hold all proceeds in a trust in a segregated account until immediately before the closing of the acquisition. Once the offering has closed, the funds will be released.
All securities issued will be subject to a four-month statutory hold period.
Aurora Solar Technologies develops inline process controls and yield management solutions for solar cell manufacturers.
Aurora Solar Technologies (ACU) is in the grey, trading at 11:38 am EST.