11:51 AM EDT, 05/22/2024 (MT Newswires) -- Heawell AI (AIDX.TO) on Wednesday said it closed a bought-deal private placement of share units that raised $20 million.

The company sold an underwriting syndicate 14.82-million units, priced at $1.35 each and made up of a share and one half of a two-year warrant to buy a second share for $1.80..

"In addition to strengthening the company's balance sheet, the completion of the offering positions the company well to carry out the remainder of its 2024 growth initiatives," chief executive Alexander Dobranowski said in a release.

Healwell shares were last seen down $0.01 to $1.67 on the Toronto Stock Exchange.

Price: 1.67, Change: -0.01, Percent Change: -0.60