INSUBCONTINENT EXCLUSIVE:
Kraken offers a suite of advanced marine technology products and services
| Source: Kraken RoboticsKraken Robotics Inc
this week announced that it has closed its previously announced underwritten public offering, bringing in over $115 million
The offering included over 43.2 million common shares of the company at a price of $2.66 per share.“This successful equity offering shows
strong support from investors and reflects confidence in our vision and strategy as we scale our business,” stated Greg Reid, President
“With a fortified balance sheet, we are well-positioned to pursue strategic acquisitions, expand our global footprint, and deliver even
greater value to our customers and shareholders.”Subsea imaging technologies developKraken Robotics said it hopes to transform subsea
intelligence with 3D imaging sensors, power systems, and uncrewed maritime systems
The Mount Pearl, Canada-based company claimed that its products and services enable clients to safely, efficiently, and sustainably overcome
challenges in our oceans.It offers synthetic aperture sonar, sub-bottom imaging, and lidar systems to provide critical insights into ocean
safety, infrastructure, and geology
Kraken also offers pressure-tolerant batteries that deliver high-energy-density power for uncrewed underwater vehicles (UUVs) and subsea
energy storage.In April, Kraken announced that, through a subsidiary, it had acquired 3D at Depth Inc., a subsea services company
specializing in high-resolution lidar imaging and measurements
3D at Depth is now a wholly owned subsidiary of Kraken.As it transitions to the Kraken brand, 3D at Depth plans to continue operating as a
trusted partner in subsea lidar imaging, complementing Kraken’s suite of synthetic aperture sonar and sub-bottom imaging
technologies.Kraken sets sights on global contractsIn Q1 of 2025, Kraken brought in $10.1 million in gross profit, an 8% increase from the
The company said it has offices in North America, South America, and Europe supporting clients in more than 30 countries
worldwide.Desjardins Capital Markets led the offering as underwriter and sole bookrunner
It did so on behalf of a syndicate of underwriters including Cormark Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., National
Bank Financial Inc., and Raymond James Ltd
The underwriters received a cash commission of over $4.6 million, 4.0% of the gross proceeds of the offering.The offering is still subject
to TSX Venture Exchange’s final acceptance of requisite regulatory filings.Kraken said it will use the proceeds to grow into a scalable
This includes:Enhancing its ability to consider larger accretive acquisitions, particularly in the U.S
and Europe, given its strengthened global profileDemonstrating a stronger balance sheet when bidding for larger governmental and commercial
contractsGeneral corporate purposesSave now with early bird discountThe post Kraken Robotics nets $115M for marine systems in public
offering appeared first on The Robot Report.
