Kraken Robotics closes C$402.5 million subscription-receipt offering
Kraken Robotics completed a public offering of subscription receipts to finance part of its Covelya acquisition.
Evidence notes
- The company issued 47,353,550 subscription receipts at C$8.50 each.
- Gross proceeds were approximately C$402.5 million after the underwriters exercised the over-allotment option in full.
- The financing supported the cash portion of Kraken’s planned acquisition of Covelya Group.
Company context
Marine technology company providing synthetic aperture sonar, subsea batteries, towed sonar systems and subsea intelligence systems.