Deal Snapshot
Tantalus to Merge with Canada-based RiseTech
Friday 20 November 2020

Connecticut, US-based smart grid technology company Tantalus Systems has agreed to merge with Canadian capital pool company RiseTech Capital Corp., to help utilities prepare for transformation of distribution grids across North America, the company said.

Tantalus closed on a concurrent financing of CDN 8.8m (USD 6.72m) a private placement of subscription receipts that will ultimately be exchanged for shares of the publicly-traded company. The financing will bolster the company's balance sheet in order to support and accelerate several strategic growth initiatives as well as for general working capital purposes.

Date Published: 20/11/2020