Concert Industries Ltd. says underwriters of its public share offering have exercised their overallotment option for 581,000 common shares at $4.75 for gross proceeds of $2.76-million.
Concert filed a final prospectus in December for a public offering of 4.4 million shares at $4.75 for net proceeds of about $20.2-million. Concert said it raised a total of about $23-million in the offering, including the overallotment option proceeds.
The offering was underwritten by a syndicate led by National Bank Financial Inc. Vancouver-based Concert, which manufactures air-laid absorbent fabrics used in products ranging from diapers to wipes, said the proceeds will help pay for a $127-million mill expansion in Gatineau, Que.
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