Kraken Robotics Launches $25 Million Public Offering

Kraken Robotics Systems Inc (TSE:PNG) has released an update.

Kraken Robotics Inc. has announced a $25 million public offering through the sale of common shares at $1.60 each, with the potential for an over-allotment option. The company plans to use the proceeds to expand its facilities, pursue acquisitions, and strengthen its balance sheet for future growth and customer demands. The offering, expected to close by October 22, 2024, will not be available in Quebec or the United States, except through private placement under certain exemptions.

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