Kraken Robotics Secures $20 Million in Equity Financing

Kraken Robotics Systems Inc (TSE:PNG) has released an update.

Kraken Robotics Inc. has successfully closed a $20 million bought deal equity financing, with over 21 million common shares sold at $0.95 each. The funds are earmarked for expanding the company’s long-term strategy, including investments in facilities, manufacturing capacity, and preparing for future contracts. The deal, led by a syndicate of underwriters, will also aim to bolster Kraken Robotics’ balance sheet for general corporate purposes.

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