Stingray wraps up $40M share offering

MONTREAL - Stingray said Tuesday that it has successfully completed a bought deal offering of an aggregate of 4,348,000 subordinate voting shares worth $40 million.The company has granted the Underwriters an over-allotment option to purchase up to that number of additional shares equal to 15% of the shares purchased pursuant to the offering, exercisable in whole or in part at any time up to 30 days after and including the closing date of the offering.Stingray said that it intends to use the net proceeds of the offering for working capital and general corporate purposes, including to provide further flexibility for...