Black Diamond Announces Closing of $42.38 Million Bought Deal Offering

Core Viewpoint - Black Diamond Group Limited has successfully completed a public offering of common shares, raising approximately $42.38 million to reduce debt and fund various strategic initiatives [1][2]. Group 1: Offering Details - The company issued a total of 4,657,500 common shares at a price of $9.10 per share, including 607,500 shares from the over-allotment option [1]. - The offering was led by a syndicate of underwriters, including Raymond James Ltd., Canaccord Genuity Corp., and others [1]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily be used to reduce indebtedness under the company's asset-based revolving credit facility [2]. - Subsequent uses of the proceeds will include capital expenditures, strategic acquisitions in modular space rentals and workforce accommodation, organic growth initiatives, working capital, and general corporate purposes [2]. Group 3: Company Overview - Black Diamond operates in the specialty rentals and industrial services sector with two main business units: Modular Space Solutions (MSS) and Workforce Solutions (WFS) [5]. - MSS manages a large rental fleet of modular buildings and serves various sectors including construction, industrial, and government [6]. - WFS provides modular accommodation assets and includes LodgeLink, a digital marketplace for crew accommodation and travel logistics [7][8].