Strongco Raises $7.86 Million in a Rights Offering

Canadian distributor Strongco Corp. has completed its rights offering for aggregate gross proceeds of $7.86 million.

“Our objective with the rights offering was to provide funding for growth initiatives,” said Robert Dryburgh, Strongco president and CEO. “We are very pleased that our shareholders have responded so positively to this offering, which, including the additional subscription privilege, was substantially oversubscribed.”

Strongco, based in Mississauga, Ont., is No. 82 on the RER 100.