Enablence preps for offering

OTTAWA – Optical equipment maker Enablence Technologies Inc. signs a Enablence-logo110X48.JPGshort-form prospectus meant to raise funding to replenish cash reserves after its coffers were emptied to finance recent acquisitions. The company hopes to raise about $12 million, offering up to 40 million common shares for 30 cents each, in the proposed round to be led by Paradigm Capital Inc. and including Haywood Securities Inc. and Raymond James Ltd. Some of Enablence’s top execs, including CEO Arvind Chhatbar, will subscribe under the offering for a total of about 6.8 million common shares. The company says it will use the funding for operations including R&D and sales and marketing, as well as to strengthen its balance sheet.

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