Vitran Corp. Inc. (VTNC, VTN.TO) said that it has completed a private placement of about 2.7 million shares of common stock at the price of US$8.50 per share, for aggregate gross proceeds of about US$23.0 million.
In connection with the completion of the offering, the company also confirmed the effectiveness of the amendment to its syndicated credit agreement.
The company said it expects to receive the net proceeds from the offering of about US$21.4 million, after payment of costs and expenses associated with the sale.
The company said it intends to use the proceeds to permanently reduce the outstanding amount of its syndicated term debt by US$7.5 million. The remainder of the net proceeds will be used to pay down revolving debt.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.