Hamilton Thorne Ltd., a leading worldwide provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART) and developmental biology research markets, enters into an agreement with Bloom Burton Securities Inc., on behalf of a syndicate of underwriters that includes Beacon Securities Ltd. and Cormark Securities Inc. to accelerate returns in health care.
The underwriters have agreed to purchase, on a bought deal private placement basis, 9,090,910 common shares of the company at a price of CDN$1.10 per common share for aggregate gross proceeds of CDN$10,000,001.
The offering closing will fall on or about September 20, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
“This strategic financing positions us to continue to grow Hamilton Thorne through acquisition,” states David Wolf, president and chief executive officer, Hamilton Thorne. “By strengthening our balance sheet and broadening our institutional ownership we will be able to accelerate and expand our acquisition program.”