Kraken Robotics closes $10.4 million bought deal financing

26 October 2020

On October 26, 2020, Kraken Robotics Inc. (TSXV: PNG) (OTCQB: KRKNF) announced that it had closed its previously announced "bought deal" short form prospectus offering of common shares of the company for gross proceeds of $10,385,000, inclusive of the partial exercise of the over-allotment option. The offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp., on behalf of a syndicate of underwriters including Stifel GMP and Beacon Securities Limited. 

Kraken Robotics is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters and underwater robotic systems. The company is headquartered in St. John's, Newfoundland, with offices in Nova Scotia, Ontario, Germany and Massachusetts. 

Gowling WLG advised Kraken Robotics with respect to this financing with a team that included Ian Mitchell, Marek Lorenc and Josh Rosen (corporate/securities), assisted by student-at-law Quinn Clement-Schlimm.

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