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Abaxx Technologies Down 4.3% After Raising $69 Million Via Bought Deal Offering

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Abaxx Technologies (ABXX.TO) shares fell 4.3% on Tuesday after it closed its previously announced upsized "bought deal" public offering raising $69 million, which includes the full exercise of the over-allotment option.

The offering consisted of the issuance of 1.3-million common shares at $54.25 apiece.

Proceeds will be used for the development and operation of its exchange and clearinghouse in Singapore, the development of its digital infrastructure business, and general corporate and working capital needs.

Shares of the company were last seen down $2.50 at $56.20 on the Toronto Stock Exchange.

Price: $55.53, Change: $-3.17, Percent Change: -5.40%

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