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Winnipeg company raises $20 million in share offering

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IMRIS Inc. announced this morning it has closed its underwritten public share offering, raising $20.1 million with the issuance of 5,750,000 shares at $3.50 per share.

The Winnipeg-based company says it intends to use the proceeds from the offering for working capital and general corporate purposes, including commercialization activities of new products, research and development programs and working capital needs.

The medical device company has stated its intention to relocate its operations to Minneapolis later this year.

IMRIS shares were trading off one penny to $3.30 this morning.

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