$300 million raised

Allen%20Vanguard.jpgBomb countermeasures maker Allen-Vanguard Corp. raises more than $300 million in a public offering. The company says it will use the funds to repay debt, as well as to cover costs associated with its $650-million acquisition of Med-Eng. “We are very pleased with the success of this offering, which exceeded our target objective,” says David Luxton, Allen-Vanguard’s CEO. “It attracted several new U.S. and Canadian institutional investors, as well as additional investment from a number of existing institutional shareholders.” Led by Genuity Capital Markets and including Paradigm Capital Inc., Versant Partners Inc. and Canaccord Adams, the sale of 31.58 million common shares at $9.50 a share raised gross proceeds of $300,010,000.

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