08:52 AM EDT, 10/02/2024 (MT Newswires) -- Kraken Robotics ( KRKNF ) , trading shy of 52 week highs, on Wednesday said it has increased its $25 million bought deal public offering to $45 million.

The company will issue 28.1 million shares at $1.60 each. The underwriters have a 15% over-allotment option. The offering is expected to close about October 22.

Proceeds will be used to expand facilities and increase manufacturing capacity and general working purposes.