Funding goal topped

Optical modem components maker Enablence Technologies Inc. exceeds its expectations by $7.5 million in its latest public offering. The company Enablence.jpghad stated in mid-October that it intended to bring in up to $50 million through the sale of 37,037,100 common shares priced at $1.35 each. Instead, Enablence's second financing effort in the last eight months reaped gross proceeds of $57.5 million on roughly 42.6 million shares. Led by Paradigm Capital Inc. and including Haywood Securities Inc., Raymond James Ltd. and Dundee Securities Corp., the round produced money for working capital and product development, among other purposes. In March, Enablence raised gross proceeds of $15 million in a private placement.

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