Zedcor Inc. has expanded its credit facility with National Bank of Canada, raising committed borrowing from $75.0 million to $100.0 million. The Calgary-based security company also has an uncommitted $50.0 million accordion feature, which could lift total capacity to $150.0 million. Terms and covenants are otherwise unchanged. The company says demand is very strong for its MobileyeZ security towers across Canada and the US, and it is ramping up production while opening more US branches. "Given the significant percentage of our revenue and EBITDA that is reocurring in nature, we have increasing visibility and confidence in our future cash flows," said Todd Ziniuk, president and chief executive officer. He said this supports the use of non-dilutive financing.

Zedcor Inc. has closed its upsized bought deal public offering, raising C$30.5 million. The Calgary-based company sold 5,084,000 common shares at C$6.00 per share through underwriters led by National Bank Financial and Desjardins Capital Markets. The underwriters have a 30-day over-allotment option to purchase an additional 762,600 shares at the same price. The shares were offered across Canada, except Quebec, and to qualified institutional buyers in the United States via private placement. Zedcor will use the net proceeds to expand its fleet of MobileyeZ security towers, grow its service platform across the United States, and for working capital and general corporate purposes. The company paid the underwriters a 5% cash fee on gross proceeds.