08:08 AM EDT, 03/25/2024 (MT Newswires) -- VitalHub ( VHIBF ) on Monday said it is raising C$35 million in a bought-deal share offering.

The mental-health administration technology company said it is selling an underwriting syndicate 5.83-million shares priced at C$6.00 each in the offering. It has also granted the syndicate an over-allotment option of 875,000 shares.

"The net proceeds of the offering shall be used for growth initiatives including future acquisitions, working capital and general corporate purposes," the company said.

Vitalhub ( VHIBF ) shares have climbed 145% over the past 12 months. They closed down C$0.22 to C$6.48 Friday on the Toronto Stock Exchange.