Canaccord Capital Inc. today announced the successful closing of its previously announced $60 million bought deal offering.

The offering consisted of 5,855,000 common shares at a price of $10.25 a share, for gross proceeds of $60,013,750.

The underwriting syndicate for the offering was led by Genuity Capital Markets, Canaccord Capital Corporation and CIBC World Markets Inc., and included Macquarie Capital Markets Canada Ltd., TD Securities Inc. and Thomas Weisel Partners Canada Inc.

Canacord says the underwriters have the option to purchase up to an additional 878,250 common shares at the Issue price at any time prior to 30 days following the closing date of the offering, for additional gross proceeds of up to $9,002,062.50.

Canaccord intends to use the net proceeds of the offering in support of business development activities, including the competitive pursuit of recruitment opportunities that may arise in relation to both its Canaccord Adams and Private Client Services business segments and small opportunistic acquisitions of complementary businesses with a view to accelerating the growth of Canaccord’s businesses.

The shares being issued have been conditionally approved for listing on the TSX. Application has been made for the shares to be admitted to trading on AIM on or around May 6.

Canaccord Capital Inc. now has a total of 53,690,051 common shares in issue, and does not hold any common shares in treasury.