Markets

Vecima Networks Announces Financing

May 28, 2024 — 02:26 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Vecima Networks Inc. (VCM.TO) announced a financing of up to C$32 million, having received subscription agreements in connection with a brokered private placement of 833,200 subscription receipts of the company at a price of C$21.00 per subscription receipt for gross proceeds of C$17.5 million, and a concurrent non-brokered private placement with 684739 B.C. Ltd. of 476,190 subscription receipts at the issue price for gross proceeds of C$9.9 million, for aggregate gross proceeds of C$27.5 million in commitments so far. The financing is anticipated to close on May 29, 2024.

The company plans to use the net proceeds to finance a portion of the previously announced proposed acquisition of the Cable Business assets of Casa Systems, and certain of Casa's subsidiaries.

RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source

Tags

Markets

Latest Articles
Data is currently not available