Tantalus Systems Holding Inc. Completes $23.0 Million Bought Deal Financing

Executive Summary

• Tantalus Systems Holding Inc. closed a bought‑deal public offering of 4,299,275 common shares at C$5.35 per share, raising approximately C$23.0 million in gross proceeds.
• The underwriters exercised the over‑allotment option for an additional 560,775 shares, adding roughly C$3.0 million to the total proceeds.
• Net proceeds will be allocated to sales & marketing, strategic growth initiatives, partial repayment of a term loan, capital expenditures, R&D, and working‑capital/general corporate purposes.

Key Details

• Offering Size: 4,299,275 common shares issued from treasury at C$5.35 per share.
• Gross Proceeds: Approximately C$23.0 million.
• Over‑Allotment Option: Underwriters purchased an extra 560,775 shares, contributing ~C$3.0 million in gross proceeds.
• Underwriting Syndicate: Lead underwriter – ATB Cormark Capital Markets (lead & sole bookrunner); participants – TD Securities Inc., Beacon Securities Limited, Canaccord Genuity Corp., Paradigm Capital Inc., Raymond James Ltd., Haywood Securities Inc.
• Cash Commission to Underwriters: 6.0% of gross proceeds (reduced to 3.0% for certain purchasers on the President’s List); no cash commission on U.S. sales under the President’s List.
• Insider Participation: Insiders purchased ~57,922 shares; transaction exempt from MI 61‑101 valuation/approval thresholds (<25% of market cap). No director dissent recorded.
• Use of Proceeds:
• Sales and marketing initiatives
• Strategic growth projects
• Partial repayment of existing term loan
• Capital expenditures (CAPEX)
• Research & development (R&D)
• Working capital and general corporate expenses
• Post‑Offering Share Count: 56,007,705 common shares outstanding; shares listed on the Toronto Stock Exchange (TSX).
• CEO Quote: Peter Londa emphasized strengthened balance sheet and enhanced ability to scale the business and deliver “Unified Intelligence” for grid modernization.

Notable Quotes

“We are focused on executing on our vision of delivering Unified Intelligence to utilities to accelerate their distribution grid modernization efforts… As a result of this offering, we believe Tantalus is in a stronger position than ever to deliver highly innovative and differentiated solutions to market and to continue to scale our business.” – Peter Londa, President & CEO

All boilerplate, forward‑looking statements, and company background sections have been omitted for brevity.