The optical technology company, which is based in Ottawa, said it issued an aggregate of 71,875,000 common shares at 40 cents each, with about 13 per cent of the shares issued related to the full exercise of the over-allotment option by the offering’s agents.
Enablence had previously announced the offering in January, with plans to use the funding for working capital, general corporate purposes and acquisitions.
The company noted the offering was carried out with the participation of a syndicate of agents led by Paradigm Capital Inc. and including Raymond James Ltd.
The agents received a commission equal to six per cent of the gross proceeds of the offering, as well as compensation options entitling them to buy that number of common shares equal to four per cent of the common shares sold in the offering.
