RE:Globe & Mailretiredcf wrote: 09:49 AM EDT, 09/01/2021 (MT Newswires) -- Converge Technology Solutions Corp. (CTS.TO) on Wednesday rose 0.9% on last look after reporting the closing of its offering of common shares.
The offering consisted of about 24.6 million common shares at $10.55 per offered share for gross proceeds of roughly $259 million, which includes the full exercise of the over-allotment option by the underwriters.
Converge plans to use the net proceeds for acquisitions, working capital, and other general corporate purposes.
Converge Technology is a software-enabled IT and cloud services provider.
Price: 12.11, Change: +0.14, Percent Change: +1.17
Demand for the stock is pretty good. Have to say, I'm impressed. Looks like the makings of a tech darling. One with actual, and significant, sales. Nice for a change isn't it?