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Converge Technology Solutions raises $ 34.5 million in fresh capital

Institutional investors believe in the North American IT service provider’s cloud-based growth strategy Converge Technology Solutions Corp. (CSE: CTS; FRA: 0ZB). Converge has just raised $ 34,537,375 million from an oversubscribed prospectus placement. Originally only CAD 20.1 million was announced. The offering consisted of 16,847,500 common shares of the company at a price of $ 2.05 per share offered. The closing price was $ 2.18 yesterday.

Canaccord Genuity Corp. and Echelon Wealth Partners Inc. led the consortium of syndicate banks for the offering, which includes Desjardins Personal-Financial.com Markets, Eight Personal-Financial.com, Laurentian Bank Securities Inc., Paradigm Personal-Financial.com Inc. and Raymond James Ltd. belonged to.

Converge Technology Solutions is a North American provider of cloud-based IT solutions. Converge’s regional sales and service organizations provide customers in a variety of industries with advanced analytics, cloud, cybersecurity and managed services offerings. The company supports these solutions with digital infrastructure offers from all major IT providers on the market. Converge’s customers come from the public and private sectors.

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