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Enablence Technologies Secures CA$25 Million Investment from Collingwood

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Enablence Technologies (ENA.V) has secured an equity investment of CA$25 million from Collingwood Investments.

Under the offering, Enablence will issue 3.23-million shares priced at CA$7.75 each, a 21% premium to their Sept.14 closing price, the company said Tuesday.

The investment will give Collingwood a 13.3% stake in Enablance. It previously held no shares in the company.

The optical-technologies company plans to use proceeds to expand capacity at its facilities in Silicon Valley and Vietnam, to support growing sales volumes and for general corporate purposes.

"The capital will enable us to accelerate our expansion plans and strengthen our competitive position in the rapidly evolving photonics market," Chief Executive Officer Todd Haugen said.

Enablence shares last traded Monday, closing at CA$6.39 on the TSX Venture Exchange.

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