Business owner Alexander Fernandes knows a thing or two about growing companies. The Vancouver serial entrepreneur has done it four times, most recently as CEO of Avigilon Corp., which makes high-definition surveillance systems.Rafal Gerszak
Things have turned 180 degrees in the financing markets as small mining and energy stocks are in the dumps and technology financings are drawing healthy interest .
This week saw two oversubscribed deals for technology companies.
Toronto Stock Exchange-listed Avigilon Corp. raised $23-million, more than the $20-million originally planned, in a transaction led by GMP Securities. Avigilon, which makes video surveillance gear, has been a solid performer in a tough market. Since going public late last year for $4.50 a share, the company has steadily risen in value. This week's stock sale was at $6.40 a share.
Spectra7 Microsystems brought in $11-million from three venture capital firms in a convertible debenture financing. Spectra7 is in the process of going public through a reverse takeover of a shell corporation.