UrtheCast Raises $10 Million for World's First Live Space Streaming Camera

Posted by Techvibes NewsDesk

Vancouver's UrtheCast has announced that it has completed its previously announced bought deal public offering of common shares of the company.

The Company issued a total of 4,545,500 common shares at a price of $2.20 per share, for gross proceeds of $10 million. The offering was completed through a syndicate of underwriters comprised of Clarus Securities, as lead underwriter, Cormark Securities and Canaccord Genuity, pursuant to the terms of an underwriting agreement entered into between the company and the Underwriters.

Urthecast intends to add the net proceeds from the offering to the company's working capital and anticipates that the net proceeds will primarily be used for commissioning and commercialization of the company's cameras, regulatory and operational costs and development of infrastructure in furtherance of the company's business plan, and for general corporate purposes.

Company:
UrtheCast
Website:
http://www.urthecast.com
Location:
Vancouver, British Columbia, Canada

UrtheCast was created around a unique vision: to provide the world’s first ever, near real-time HD video feed of Earth from space. Working in an exclusive relationship with the Russian Aerospace giant RSC Energia, UrtheCast has built, launched, installed, and will soon be operating two cameras on the Russian module of the International Space Station. Starting in 2014, video of the Earth collected by our cameras... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more




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