10:55 AM EDT, 06/13/2025 (MT Newswires) -- Thinkific Labs ( THNCF ) , a cloud-based software platform, on Friday closed the previously announced secondary bought deal offering of common shares in Thinkific ( THNCF ), held by the Rhino Group.

A statement noted that the Rhino Group sold more than 6.4 million common shares at a price of C$2.25 each, for aggregate gross proceeds to the Rhino Group of around $14.5 million.

Thinkific ( THNCF ) said the secondary offering included 666,665 offered shares sold pursuant to the partial exercise of the underwriters' over-allotment option.

The company added that net proceeds of the secondary offering were paid directly to the Rhino Group. Thinkific ( THNCF ) did not receive any proceeds from the secondary offering.

A company statement noted that as part of the secondary offering, the Rhino Group has agreed to be locked up from selling any further securities of Thinkific ( THNCF ) for six months from closing and the Chief Executive Officer of Thinkific ( THNCF ) and certain holders of more than 10% of the company's common shares have agreed to be locked up from selling any securities of Thinkific ( THNCF ) for three months from closing.

The company further stated that immediately following the closing of the secondary offering, the Rhino Group, in the aggregate, beneficially owned around 9.8 million common shares, or about 14.45% of the outstanding common shares on a non-diluted basis.

The company's shares were last seen down 1.85% to $2.12 on the Toronto Stock Exchange.

Price: 2.12, Change: -0.04, Percent Change: -1.85