Good Natured Products (TSXV: GDNP) this morning closed its previously announced bought deal financing. The company managed to raise gross proceeds of $23.1 million from the transaction.
A total of 19.3 million shares of the company were sold in connection with the financing, at a price of $1.20 per share. No warrant was offered under the terms of the raise. Shares sold included those issued under the firms over allotment option. Insiders reportedly subscribed for $49,440, or 41,200 shares.
Proceeds from the financing are to be used for potential future acquisitions as well as capital expansion projects and general working capital purposes.
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Good Natured Products last traded at $1.20 on the TSX Venture.
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