Blackline Safety’s $40 million bought deal financing
Published October 29, 2021
The transaction strengthens Blackline’s financial position and allows it to speed up its growth strategies and investments.
BD&P’s role
Our team was counsel to Blackline––a safety technology company––in its bought deal financing of 5,480,000 common shares for gross proceeds of about $40 million.
We’ve been legal partners with Blackline for many years, giving us a deep understanding of their business. It also gives us the insight to provide more efficient, thorough service that better protects their interests. Because it was the first time they had done this kind of financing, we had daily check-ins to make sure they understood the cadence and protocols and stayed informed through every step.
The results
Blackline Safety intends to use the net proceeds of the offering for general corporate purposes, but mainly to:
- Strengthen its financial position.
- Speed up its growth strategies and investments in sales, marketing and product commercialization.