Cobham, a British technology company that serves military, security and aerospace industries, plans to issue shares in a bid to raise $722.81m.
The offering, which is expected to take place in the second quarter of 2016, will help the company to pay back some of its existing debt.
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Canadian company FLYHT Aerospace Solutions has agreed to issue 33,333,333 units in private placement to raise $3.94m. The subscription price of each unit, which comprises one common share, is $0.11.
After the offering, one-half of one common share purchase warrant will be issued per unit. Each warrant will allow buyers to purchase one common share at a price of $0.19 within 24 months.
The offering remains subject to the approval of the TSX Venture Exchange.
The proceeds will be used to cover the outstanding debentures by June, the development of new products, and working capital purposes.
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