Kraken Robotics (TSE:PNG) has released an update.
Kraken Robotics Inc. has announced a significant $17.5 million public offering, led by Cormark Securities Inc., selling over 18 million common shares at $0.95 each. The company aims to use the raised funds to expand manufacturing, invest in facilities, and prepare for upcoming contract opportunities, with an over-allotment option available for underwriters. The offering’s closing, subject to regulatory approvals, is anticipated around May 16, 2024.
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