07:53 AM EDT, 06/06/2024 (MT Newswires) -- Blackline Safety ( BLKLF ) , which sells connected safety devices and predictive analytics, overnight Wednesday said that it has filed a final short form prospectus for a bought deal offering of about $20 million.

The offering comprises about 5 million common shares at $4.05 apiece. The underwriters have a 30-day over-allotment option for an additional 742,500 shares.

Blackline also plans to raise about $10 million in a private placement, non-brokered sale to DAK Capital of about 2.5 million common shares at the same $4.05 price. DAK may also buy up to 371,250 additional shares at the same price if the over-allotment option is exercised, on the basis of 0.5 of a common share for every one common share issued under the over-allotment option.

The offering and the private placement are expected to close by about June 12.

Additionally, Blackline said it renewed its lease securitization facility of $15 million and US$30 million with CWB Maxium Financial for an additional year from March 31, 2024 to March 31, 2025