Kraken Robotics completes $20 million bought deal equity financing

1 minute read
21 May 2024

On May 21, 2024, Kraken Robotics Inc. (TSXV: PNG) (OTCQB: KRKNF) announced that it had closed its previously announced "bought deal" short form prospectus offering of common shares for gross proceeds of $20,126,035, inclusive of the full exercise of the over-allotment option by the underwriters.

The offering was led by Cormark Securities Inc. as lead underwriter, on behalf of a syndicate of underwriters including Beacon Securities Limited, Canaccord Genuity Corp., Echelon Wealth Partners Inc. and Raymond James Ltd.

Kraken Robotics is a marine technology company providing complex subsea sensors, batteries, and robotic systems. The company is headquartered in Canada and has offices in North and South America and Europe. Kraken Robotics is ranked as a Top 100 marine technology company by Marine Technology Reporter.

Gowling WLG advised Kraken Robotics with respect to this offering with a team that included Ian Mitchell, Josh Rosen, Jaanam Mahhboobani and Matthew Brooker (corporate) and Paul Carenza (tax).

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