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CALGARY, AB, May 22, 2024 /CNW/ - Blackline Safety Corp. ("Blackline" or the "Company") (TSX: BLN) a global leader in connected safety technology, is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") led by Canaccord Genuity Corp. to purchase on a bought deal basis, 4,950,000 common shares of Blackline ("Common Shares") at a price of $4.05 per Common Share (the "Offering Price") for gross proceeds to the Company of approximately $20 million (the "Offering"). The Company has granted the Underwriters an over-allotment option exercisable at any time up to 30 days following the closing of the Offering, to purchase up to an additional 742,500 Common Shares at a price per Common Share equal to the Offering Price. In the event that the over-allotment option is exercised in full, the gross proceeds of the Offering will be approximately $23 million.
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