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Oct 26, 2021
Baylin Technologies Inc. Completes $15 Million Private Placement
Baylin Technologies Inc. (TSX:BYL) (“Baylin”), a leading, diversified, global technology company, recently completed a private placement offering of 17,648,000 common shares at a price of $0.85 per common share for aggregate gross proceeds of approximately $15 million (the “Offering”). The Offering was completed in two tranches, with the first tranche completed on September 1, 2021 for gross proceeds of approximately $10 million and the final tranche completed on October 21, 2021 for gross proceeds of approximately $5 million. The net proceeds from the Offering will be used for general working capital purposes and for the repayment of outstanding debt.
Paradigm Capital Inc. acted as lead agent for the Offering, together with Raymond James Ltd.
Aird & Berlis acted on behalf of Baylin with a team composed of Richard Kimel, Adria Leung-Lim, Amy Marcen-Gaudaur and Meredith McCann (Capital Markets).