Century Casinos Inc. closed its offering of 4,887,500 shares of its common stock at $7.50 per share, raising net proceeds of roughly $34.4 million.
The public offering included the full exercise of the underwriters' overallotment option to buy 637,500 additional shares.
The company aims to apply up to $25.0 million of the net proceeds to finance construction costs for the Century Mile project, with the balance of the proceeds to be invested in further gaming projects and for working capital and other general business purposes.
Stifel and Roth Capital Partners were the joint book-running managers for the offering. Craig-Hallum Capital Group and Union Gaming Securities were the co-managers.