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Intermap Technologies Closes Bought Deal Public Offering for Gross Proceeds of $28,752,300, Including the Full Exercise of the Over-Allotment Option
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About this update from Intermap Technologies Corporation Class A
[{"type":"text","content":"Intermap Technologies Closes Bought Deal Public Offering for Gross Proceeds of $28,752,300, Including the Full Exercise of the Over-Allotment Option\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.\n \n\n\n DENVER, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Intermap Technologies Corporation (TSX: IMP; OTCQB: ITMSF) (\"\n \n Intermap\n \n \" or the \"\n \n Company\n \n \"), a global leader in 3D geospatial products and intelligence solutions, announced today that it has closed its previously announced and upsized \"bought deal\" public offering of 9,584,100 Class A common shares in the capital of the Company (the \"\n \n Common Shares\n \n \") at a price of $3.00 per Common Share for aggregate gross proceeds to the Company of $28,752,300, including the full exercise of the over-allotment option granted to the Underwriters (as defined herein) (the \"\n \n Offering\n \n \").\n \n\n The Offering was underwritten by a syndicate of underwriters led by Stifel Nicolaus Canada Inc., and included Canaccord Genuity Corp. and Beacon Securities Limited (collectively, the \"\n \n Underwriters\n \n \").\n \n\n The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes, as more particularly described in the Prospectus Supplement (as defined herein). The Offering remains subject to the final approval of the Toronto Stock Exchange (the \"\n \n TSX\n \n \").\n \n\n Patrick A. Blott, Intermap's Chairman and CEO, said, “The success of this Offering reflects investment from long-term, growth-oriented institutions that recognize the critical value our customers place on Intermap’s proprietary GEOINT data products. We are pleased with the strong demand, resulting in over-subscription and upsizing of the Offering. A stronger balance sheet matches our objective to increasingly embed exquisite mission-critical GEOINT in our customer workflows.”\n \n\n The Offering was completed by way of a prospectus supplement (the \"\n \n Prospectus Supplement\n \n \") to the short form base shelf prospectus of the Company dated September 15, 2025 (the \"\n \n Base Shelf Prospectus\n \n \"), which supplement was filed on September 24, 2025. The Base Shelf Prospectus and the Prospectus Supplement can be found on SEDAR+ at\...