11:36 AM EDT, 06/12/2024 (MT Newswires) -- ADENTRA ( HDIUF ) said Wednesday it closed a bought-deal share offering that raised $100.1 million.

The architectural-products distributor sold an underwriting syndicate 2.58-million shares priced at $38.75 each, including the full exercise of the underwriters' over-allotment option.

The company plans to use the net proceeds to repay bank debt including under its revolving credit facility, increasing its available credit to fund potential strategic acquisitions, and for general corporate purposes.

The company's shares were last seen up $0.56 to $38.66 on the Toronto Stock Exchange,

Price: 38.66, Change: +0.56, Percent Change: +1.47