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Protech Home Medical upsizes bought-deal offering to raise $3M

Protech Home Medical Corp. upsized its bought-deal offering to raise $3 million in gross proceeds.

The Kentucky-based healthcare services provider sold 25 million common shares priced at 12 cents apiece in the offering.

Underwriters were granted an option to buy up to an additional 3,750,000 common shares. If the option is fully exercised, Protech expects to raise additional proceeds of $450,000.

The offering is expected to close Oct. 31.

Protech, which provides in-home monitoring and disease management services, will use the net proceeds for working capital and general corporate purposes.

Beacon Securities Ltd. is acting as the underwriter for the offering.