Blackline Announces Strategic Financing Transaction
Summary
Blacklines unique business model encompassing high-margin software services, attractive unit economics, and impressive customer metrics provides a strong foundation to build a multi-billion-dollar company over time. We are thrilled to partner with Blackline as it redefines worker safety and capitalizes on the many growth opportunities ahead.Proceeds from the Offering will be used to fund investments in cloud-based software, data platform enhancements, and scalability initiatives, including expansion of manufacturing for growing demand and the improvement of internal operating systems to strengthen margins. Pursuant to MI 61-101, absent an available exemption, the Company would be required to obtain minority approval and a formal valuation for the issuance of Common Shares to DAK in connection with the Offering. Blackline provides wearable devices, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with coverage in more than 100 countries. Armed with cellular and satellite connectivity, Blackline provides a lifeline to tens of thousands of people, having reported over 250 billion data-points and initiated over eight million emergency alerts.