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.
Good Natured Products last traded at $1.20 on the TSX Venture.
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