- Blackline Safety Corp. (BLN) has announced a bought-deal private placement for gross proceeds of approximately $8 million
- Blackline has also announced a concurrent non-brokered private placement for gross proceeds of $12 million
- Net proceeds will be used for general corporate and working capital purposes
- Blackline Safety Corp is a connected safety monitoring technology company
- Blackline Safety Corp. (BLN) opened trading at C$2.64
Blackline Safety Corp. (BLN) has announced a bought-deal private placement for gross proceeds of approximately $8 million.
The company will issue 3,640,000 common shares at $2.20 per share.
The underwriters have been granted an over-allotment option to purchase up to an additional 15 per cent of the common shares issued. In the event that the over-allotment option is exercised in full, the gross proceeds of the offering will be approximately $9.2 million.
Blackline has also announced a concurrent non-brokered private placement for gross proceeds of $12 million.
The private placement is expected to close concurrently with the closing of the bought-deal offering.
Net proceeds will be used for general corporate and working capital purposes.
Blackline Safety Corp is a connected safety monitoring technology company providing wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics.
Blackline Safety Corp. (BLN) opened trading at C$2.64.