Vecima Networks (TSE:VCM) has released an update.
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Vecima Networks Inc. has announced a financing round aimed at raising up to C$32 million, with C$27.5 million already committed through private placements. The funds are intended to support a portion of the company’s acquisition of Cable Business assets from Casa Systems, Inc., with any additional costs to be covered by existing cash reserves or further financing. The financing is set to close on May 29, 2024, with each subscription receipt automatically converting into a common share upon the fulfillment of certain conditions.
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