Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Bombardier Inc. (BBD.B-T) announced it started the process of streamlining its senior leadership team as it transitions to a pure-play business jet company. The company said it has eliminated the Bombardier Aviation president role and said David Coleal will leave the company.
“With the sale of Bombardier Transportation nearing completion, we are preparing for our future as a business aviation company,” said Éric Martel, CEO, in a release. “Our goal is to create a leaner, more agile and customer-centric company to better capture growth opportunities with our industry-leading business jet portfolio. This includes simplifying our corporate leadership structure.”
Kraken Robotics Inc. (PNG-X) announced a $10-million bought-deal financing. It has an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters to buy 15 million shares at 67 cents each.
The company intends to use the net proceeds “to accelerate its robotics-as-a-service recurring revenue model,” as well as for leasehold improvements, capital expenditures, parts and inventory, future acquisitions and for general corporate and working capital purposes.
The company said monthly distributions will start at 6.5 cents per unit compared to the monthly distributions of 10.2 cents per unit that existed prior to the fund temporarily suspending distributions on Mar. 23, due to the effects of COVID-19 on the business
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