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Black Diamond Announces $36.85 Million Bought Deal Public Offering of Common Shares
Globenewswireยท 2025-06-25 20:01
Core Points - Black Diamond Group Limited has entered into an agreement with Raymond James Ltd. for a bought deal offering of 4,050,000 common shares at C$9.10 per share, resulting in gross proceeds of C$36,855,000 [1][2] - The underwriters have an over-allotment option to purchase an additional 15% of common shares at the issue price within 30 days of the offering's closing [2] - The net proceeds will be allocated for capital expenditures, strategic acquisitions, organic growth initiatives, debt reduction, working capital, and general corporate purposes [2] Company Overview - Black Diamond is a specialty rentals and industrial services company operating in Canada, the United States, and Australia, with two main business units: Modular Space Solutions (MSS) and Workforce Solutions (WFS) [6] - MSS operates through brands like BOXX Modular and CLM, providing a rental fleet of modular buildings to various sectors including construction and government [7] - WFS offers a rental fleet of modular accommodation assets and includes LodgeLink, a digital marketplace for crew accommodation and travel logistics in North America [8][9]