Quarterhill Raises CA$51.75 Million Through Bought-Deal Private Placement

Quarterhill (QTRH.TO) closed its bought-deal offering for gross proceeds of around CA$51.75 million, it said Wednesday.

The company issued around 20.87 million shares priced at CA$2.48 each, it said. Insiders subscribed for 806,500 offered shares, said the company.

The company plans to use the net proceeds for general corporate purposes, working capital, repayment of debt obligations, and to fund growth initiatives, including future acquisitions, it added.

The company's shares were last seen up CA$0.07, or 2.7%, at CA$2.61 on the Toronto Stock Exchange.

Price: $2.62, Change: $+0.08, Percent Change: +3.15%

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Avalon Advanced Materials' Nechalacho Project Included in Canada Investment Summit Prospectus

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