NanoXplore (GRA) has closed its bought deal offering of 10 million common shares at a price of $4.00 per share.
NanoXplore is pleased to announce that it has closed its previously announced bought deal offering of 10,000,000 common shares, including the full exercise of the over-allotment option.
The over-allotment option consisted of an additional 1.5 million common shares.
Gross proceeds from the offering total C$46 million.
The offering was conducted by a syndicate of underwriters led by Echelon Wealth Partners Inc. and National Bank Financial Inc., as co-lead underwriters and joint bookrunners, and which included Paradigm Capital Inc., Raymond James Ltd., Stifel Nicolaus Canada Inc., Beacon Securities Limited and Cormark Securities Inc.
NanoXplore plans to use the net proceeds from the offering for its battery initiatives, debt reduction, sales and marketing of graphene and for general corporate purposes.
NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in industrial markets. NanoXplore is headquartered in Montreal with manufacturing facilities in Canada, the United States and Europe.
NanoXplore (GRA) is up 2.63 per cent, trading at C$4.30 per share at 12 pm EST.