Redknee Solutions announces the closing of over-allotment option for gross proceeds of US$20 million

On October 23, 2012, Redknee Solutions Inc. (TSX:RKN), completed the successful closing of its bought deal offering of 13,000,000 common shares for gross proceeds of $17,550,000. On November 14, 2012, pursuant to the over-allotment option granted to the underwriters, Redknee completed the issuance of an additional 1,950,000 common shares at $1.35 per common share for gross proceeds of $2,632,500. In total, Redknee raised aggregate gross proceeds of $20,182,500. The syndicate of underwriters was led by GMP Securities L.P., and included Canaccord Genuity Corp. and TD Securities Inc. Redknee is a leading provider of business-critical software and solutions for communications service providers. Redknee plans to use the net proceeds from the bought deal offering for working capital or to expand its current business through strategic acquisitions, if such opportunities arise. The underwriters were advised by a team from Fasken Martineau, including John Sabetti, Rubin Rapuch and Will Shaw (corporate/securities) and Mitchell Thaw (tax).