Financing 12:30 PM EST, 02/25/2021 (MT Newswires) -- Polaris Infrastructure (PIF.TO) on Thursday said it closed bought-deal share offering that raised C$51.77 million.
The renewable-power company said it sold an underwriting syndicate 2.56 million shares priced at C$20.25, which included the full exercise of the over-allotment option.
"The purpose of the offering is to strengthen the company's financial position in order to have ready access to additional capital for deployment, as previously unknown strategic growth initiatives arise from time to time," it said in a release.
Polaris shares were last seen up C$0.03 to C$20.98 on the Toronto Stock Exchange.
Price: 20.98, Change: +0.03, Percent Change: +0.14