The Canadian tech firm secured gross proceeds of C$35M through a private placement of 14.113M common shares.
Quarterhill Inc. announced a bought-deal private placement of 14.113 million common shares at C$2.48 per share, raising approximately C$35 million in gross proceeds. The offering includes an over-allotment option for underwriters to purchase an additional 15% of the shares, potentially adding C$5.25 million to the total.
If fully exercised, the deal could generate up to C$40.25 million. The placement follows recent market activity in Canadian small-cap equities, where financing rounds have targeted growth and operational expansion. No immediate market reaction was disclosed in the announcement.