- Vecima Networks (VCM) has closed its offering of 563,380 common shares
- The company has also closed its brokered private placement of 394,500 common shares
- The company intends to use the net proceeds of the offering for the repayment of the line of credit
- Vecima Networks Inc. is leading the global evolution to the multi-gigabit, content-rich networks of the future
- Vecima Networks Inc. (VCM) is down 4.68 per cent on the day, trading at $18.52 per share at 11:25 am ET
Vecima Networks (VCM) has closed its offering of 563,380 common shares and brokered private placement of 394,500 common shares.
The agents fully exercised the over-allotment option to offer for sale an additional 56,280 common shares.
Under the previously-announced offering, the company issued 957,880 common shares at a price of $17.75 per common share for gross proceeds of approximately $17,002,370.
All securities issued are subject to a statutory four-month hold period.
Net proceeds will be used to repay the company’s line of credit.
Vecima Networks Inc. delivers scalable software, services, and integrated technologies for broadband access, content delivery, and telematics.
Vecima Networks Inc. (VCM) is down 4.68 per cent on the day, trading at $18.52 per share at 11:25 am ET.