Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.
Kraken Robotics
Kraken Robotics Inc. has announced the total sale of 32,343,750 Common Shares for CAD 1.60 per Common Share for gross proceeds of CAD 51,750,000 (approximately USD 38.5 million) through a bought deal offering.
Toronto-based investment bank Cormark Securities has been the lead underwriter, on behalf of a syndicate of underwriters including Canaccord Genuity Corp., Beacon Securities Limited, Raymond James Ltd., and Scotia Capital Inc.
All have received a cash commission equal to 5.0% of the gross proceeds of the offering, which is $2,587,500, the marine technology company confirmed.
According to the plan, Kraken Robotics will use these proceeds to expand facilities and increase manufacturing capacity, as well as to capitalize on potential acquisitions of complementary businesses.
Addition achievement will strengthen its balance sheet to provide additional working capital to produce large orders and new program and contract opportunities.
Kraken Robotics Inc. is a marine technology company providing complex subsea sensors, batteries, and robotic systems. Its high-resolution 3D acoustic imaging solutions and services enable clients to overcome the challenges in oceans.
Kraken is headquartered in Canada and has offices in North and South America and Europe. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.
In late April, Peter A. Hunter was appointed Chairman of the Company's Board of Directors. He joined Kraken's Board in November of 2023.
