ProntoForms (TSX-V: PFM) will look to boost its books with a $4.5 million private placement offering next month.
The developer of mobile analytics platforms announced this week that it intends to issue 11.9 million shares at $0.38 each in a bought deal private placement offering.
Beacon Securities Ltd. and PI Financial Corp. will act as lead underwriters for the offering on the TSX Venture Exchange. Both firms will have the option of purchasing roughly two million additional shares, bringing to the total financing up to $5.3 million.
OBJ360 (Sponsored)
Adapting to hybrid Work: How IAV Is simplifying office technology with BYOD solutions
You may have heard of BYOB, but have you heard of BYOD? BYOD, also known as “Bring your own device” is becoming a common practice for companies following hybrid work
Ontario SMEs gain access to cutting-edge cybersecurity training
uOttawa Professor Guy-Vincent Jourdan says he initially never would have guessed a year ago he’d be concocting simulated social media feeds and made-up news broadcasts. But that was before becoming
ProntoForms says the offering will go towards general corporate purposes and bolster its working capital.
The Ottawa-based firm has been on a roll in recent years, increasing year-over-year revenue by 28 per cent in fiscal 2016. Earlier this month, ProntoForms reported $3.1 million in first quarter revenues, including a 12-per-cent increase in recurring revenue.
ProntoForms’ shares reacted well to the news, rising 5.5 per cent in trading on Wednesday to close the day at $0.39.
The firm says it expects to make its offering on June 21.
