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Kraken Robotics Completes $115 Million Bought Deal Public Offering

Not for distribution to United States newswire services or dissemination in the United States

ST. JOHN'S, Newfoundland and Labrador, July 07, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ("Kraken" or the "Company") (TSX.V: PNG) is pleased to announce that it has closed its previously announced underwritten public offering of 43,240,000 common shares in the capital of the Company (the "Common Shares") at a price of $2.66 per Common Share, for aggregate gross proceeds of $115,018,400 (the "Offering"), inclusive of the full exercise of the over-allotment option by the Underwriters (as defined below).

The Offering was led by Desjardins Capital Markets as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Cormark Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc. and Raymond James Ltd. (collectively, the "Underwriters"). The Underwriters received a cash commission equal to 4.0% of the gross proceeds of the Offering, which is $4,600,736.

Kraken expects the net proceeds of the Offering will be used to support the Company's growth into a scalable global prime contractor, including: (1) enhancing the ability to consider larger accretive acquisitions particularly in the US and Europe given the Company's strengthened global profile; (2) demonstrating a stronger balance sheet when bidding for larger governmental and commercial contracts; and (3) for general corporate purposes.

"This successful equity offering shows strong support from investors and reflects confidence in our vision and strategy as we scale our business. With a fortified balance sheet, we are well-positioned to pursue strategic acquisitions, expand our global footprint, and deliver even greater value to our customers and shareholders," commented Greg Reid, ...