07:10 AM EST, 12/23/2024 (MT Newswires) -- Groupe Dynamite ( GRGDF ) , which is trading near its 52-week high, over the weekend said it partially exercised the over-allotment option under a recently completed secondary offering for $13.6 million in gross proceeds.

The company sold the subordinate voting shares at $21 apiece.

Participating in the transaction are entities controlled by Groupe Dynamite ( GRGDF ) founder, Board Chair and CEO Andrew Lutfy.

The sale of the additional subordinate voting shares will bring total gross proceeds to $313.6 million.

Closing is scheduled for Dec. 24, after which the company will have roughly 15 million subordinate voting shares issued and outstanding, as well as around 92.6 million multiple voting shares.