04:27 PM EDT, 06/25/2025 (MT Newswires) -- Black Diamond Group ( BDIMF ) after trade Wednesday said it is raising$39.85 million in bought-deal offering of shares.

The company company is selling an underwriting syndicate 4.05-million shares priced at C$9.10 each. It also granted the underwriters and 15% over-allotment option.

Proceeds will be used for capital spending, potential acquisitions, business growth, debt repayment, working capital, and general corporate needs, the specialty rentals and industrial services company said.

The deal is set to close on or around July 16, pending necessary approvals, including from the Toronto Stock Exchange.

The company's shares closed down $0.09 to $9.39 on the Toronto Stock Exchange.