09:15 AM EDT, 10/03/2024 (MT Newswires) -- Fintech Propel Holdings Inc. (PRL.TO) on Thursday closed its previously announced bought deal offering of 4,186,000 subscription receipts of the company (including 546,000 subscription receipts issued pursuant to the exercise in full by the syndicate of underwriters of their over-allotment option granted by the company), at a price of C$27.50 per subscription receipt, for gross aggregate proceeds of more than C$115 million.

In a statement it said the net proceeds from the offering will be used to fund the purchase price of the prior announced acquisition of Stagemount Limited (dba QuidMarket), a digital UK-based fintech lender. It added the balance of net proceeds will be used for working capital and general corporate purposes.