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Azure Dynamics completes US$6.05 million public offering

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Azure Dynamics Corporation

On November 18, 2011, Azure Dynamics Corporation (TSX:AZD) (Azure Dynamics) announced the successful closing of its previously announced public offering of 55,000,000 units. On November 23, 2011, the agents also exercised their over-allotment option for an additional 8,062,974 units. The total offering of 63,062,974 units resulted in Azure Dynamics receiving aggregate gross proceeds of approximately $6.9 million. The offering was conducted through a syndicate of agents co-led by Raymond James Ltd. and Cormark Securities Inc. and included National Bank Financial Inc. Azure Dynamics is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure Dynamics was advised in this matter by a team of Fasken Martineau lawyers that included, among others, Daniel Batista, Alex Nikolic, Andrew Teehan and Caitlin Fell.

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