Source: Blackline Safety Corp.
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  • Blackline Safety Corp (BLN) has increased its previously announced bought deal financing
  • The underwriters have agreed to purchase 4,780,000 common shares of Blackline for gross proceeds of approximately $10.5 million
  • Blackline also announced that proceeds from its non-brokered private placement had been increased from $12 million to $13 million
  • Blackline Safety Corp is a connected safety monitoring technology company
  • Blackline Safety Corp. (BLN) is down 5.45 per cent on the day, trading at C$2.08 per share at 11 am ET

Blackline Safety Corp (BLN) has increased its previously announced bought deal financing.

The syndicate of underwriters, led by PI Financial Corp., has agreed to purchase 4,780,000 common shares of Blackline at $2.20 per share for gross proceeds of approximately $10.5 million.

The company has granted the underwriters an over-allotment option exercisable at any time up to 30 days following the closing of the offering, to purchase up to an additional 15 per cent of the common shares issued.

Should the over-allotment option be exercised in full, the gross proceeds of the offering will be approximately $12 million.

On August 12, 2022, Blackline announced that proceeds from its non-brokered private placement had been increased from $12 million to $13 million.

Net proceeds from the offering and private placement will be used for general corporate and working capital purposes.

The offerings are scheduled to close on or about August 31, 2022.

Blackline Safety is a technology company enabling companies to drive towards zero safety incidents and improved operational performance.

Blackline provides wearable devices, personal and area gas monitoring, cloud-connected software, and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with coverage in more than 100 countries.

Blackline Safety Corp. (BLN) is down 5.45 per cent on the day, trading at C$2.08 per share at 11 am ET.


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