11:42 AM EDT, 07/16/2025 (MT Newswires) -- Black Diamond Group ( BDIMF ) on Wednesday said it closed a bought-deal offering of shares that raised $42.38 million.

The company sold an underwriting syndicate 4.65-million shares priced at $9.10 each, including the full exercise of the over-allotment option.

The company said proceeds will initially be used to reduce indebtedness under its asset-based revolving credit facility, which may be later redrawn to fund capital expenditures, strategic acquisitions, organic growth initiatives, working capital and general corporate purposes.

The company's shares were last seen down $0.06 to $10.89 on the Toronto Stock Exchange.

Price: 10.90, Change: -0.05, Percent Change: -0.46