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Byrna Technologies files for potential C$50M public offering to build up working capital

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Byrna Technologies Inc (NASDAQ:BYRN) (CSE:BYRN) has filed with the US Securities and Exchange Commission (SEC) about a proposed public offering of its common stock worth roughly C$50 million, the company announced. 

The number of shares and share price have yet to be determined, the company said, but the plan is to use the proceeds for working capital and other corporate purposes. 

The offering is subject to market and other conditions, the non-lethal personal security device manufacturer noted, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. 

READ: Byrna Technologies acquires Mission Less Lethal assets from US manufacturer Kore Outdoors

Byrna is a technology company, specializing in the development, manufacture and sale of innovative, non-lethal personal security solutions. Its shares debuted on the Nasdaq exchange on May 5.

The company is the manufacturer of the Byrna HD personal security device, a state-of-the-art handheld CO2-powered launcher designed to provide a non-lethal alternative to a firearm for the consumer, private security, and law enforcement markets.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/951188/byrna-technologies-files-for-potential-c50m-public-offering-to-build-up-working-capital-951188.html


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