Vitran Corp., Inc. (VTNC,VTN.TO) announced an agreement to sell about 2.7 million shares of common stock at a price of US$8.50 per share to certain qualified investors. The net proceeds to the company, after payment of costs and expenses associated with the offering, are expected to be about US$21.4 million.
The company plans to use the net proceeds from the offer 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.
The repayment of the revolving debt will increase the company's unused debt capacity and give the company added flexibility to execute its operating and capital initiatives.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.