Black Diamond Announces Closing of $42.38 Million Bought Deal Offering

Black Diamond Announces Closing of $42.38 Million Bought Deal Offering

Benzinga
July 16, 2025

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, July 16, 2025 (GLOBE NEWSWIRE) -- Black Diamond Group Limited ("Black Diamond" or the "Company") (TSX:BDI, OTCQX:BDIMF) announces today that it has closed its previously announced "bought deal" public offering (the "Offering") of common shares ("Common Shares") through a syndicate of underwriters led by Raymond James Ltd. and including Canaccord Genuity Corp., BMO Nesbitt Burns Inc., Acumen Capital Finance Partners Limited, Cormark Securities Inc., and Peters & Co. Limited. Pursuant to the Offering, the Company issued a total of 4,657,500 Common Shares at a price of $9.10 per Common Share for gross proceeds of approximately $42.38 million (which includes 607,500 Common Shares issued in conjunction with the exercise in full of the over-allotment option).

All of the net proceeds of the Offering (including the proceeds from the exercise in full of the over-allotment option) will initially be used to reduce indebtedness under the Company's asset-based revolving credit facility, which may be subsequently redrawn to fund the following (in order of priority): capital expenditures; strategic acquisitions, including but not limited to acquisitions of businesses operating in the industries of modular space rentals, workforce accommodation, travel and travel technology; organic growth initiatives, including but not limited to acquisitions of modular space rental fleet assets and ancillary equipment and workforce accommodation rental fleet assets comprised of large format and small format camps and ancillary equipment; working capital; and for general corporate purposes.

The securities have not been, and will not be, registered under the United ...

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