Canadian public meal kit company Goodfood Market Corp. has completed its previously announced bought deal public offering.
Goodfood Market sold 7.1 million common shares at a price of $3.5 per share. The offering represents gross proceeds of about $20 million.
In addition, the underwriters have been granted an option to buy up to an extra 857,143 treasury Shares and up to an aggregate of 214,286 secondary shares at the offering price.
Goodfood Market will use the funds to enhance its investments in automation, the expansion of Western Canada’s production capacity, breakfast and ready-to-eat meal solutions, sustainable packaging, working capital and for general corporate purposes.