Avigilon Corporation, a leader in high-definition surveillance systems, announced today that the syndicate of underwriters for its previously announced initial public offering and secondary offering (the “Offering”) have exercised the over-allotment option (the “Option”) granted to them.
Pursuant to the exercise of the Option, Avigilon issued 180,000 common shares at a price of $4.50 per share for total gross proceeds to Avigilon of $810,000, bringing Avigilon’s aggregate gross proceeds for the Offering to $20,810, 007.
The Offering was underwritten by a syndicate of underwriters led by Raymond James Ltd. and including BMO Nesbitt Burns Inc. and GMP Securities L.P. (collectively, the “Underwriters”).
Avigilon intends to use the net proceeds from the exercise of the Option for working capital and general corporate and administrative purposes.
Avigilon (avigilon.com) is a leader in the design, manufacturing and marketing of high definition, network-based video surveillance systems and equipment for the global security market. The Avigilon surveillance system has been designed to provide high quality video capture, transmission, recording and playback. The components of the Avigilon system include cameras, recording hardware and software which may be sold separately or in combination to provide customers with a customizable end-to-end video surveillance solution.
Forward Looking Statements
Certain statements contained in this news release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include, but are not limited to, statements with respect to the Offering and the use of proceeds.
Often, but not always, forward-looking statements or information can be identified by the use of words such as “plans”,“expects” or “does not expect”,“is expected”,“budget”,“scheduled”,“estimates”,“forecasts”,“intends”,“anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may”,“could”,“would”,“might” or “will” be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, we have made numerous assumptions. Although our management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that any forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks, uncertainties and other factors include, among other things those risks identified in Avigilon’s prospectus filed on SEDAR at sedar.com.
Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements or information. Avigilon undertakes no obligation to reissue or update any forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement.