March 12, 2026

Scotiabank and Desjardins lead C$402.5 million offering of subscription receipts for Kraken Robotics

Goodmans LLP acted for a syndicate of underwriters led by Scotiabank and Desjardins Capital Markets in connection with Kraken Robotics Inc.’s C$402.5 million bought deal offering of subscription receipts. The proceeds of the offering will be used by Kraken to fund its C$615 million acquisition of Covelya Group Limited.

Kraken Robotics is a Newfoundland-based marine technology company with clients across Military and Defense, Offshore Energy and Ocean Exploration markets.

Covelya Group is a UK-based international provider of underwater technology solutions and has been supporting exploration of the world’s oceans and waters for over 50 years.

Goodmans is recognised for its representation of clients in the finance, technology, life sciences and healthcare sectors, advising companies on significant investments, such as strategic investments, growth equity investments and venture funding. The law firm also has notable capabilities outside of Canada, advising clients on cross-border matters often involving the United States and Europe. — Chambers Canada
The practice group at Goodmans LLP is routinely called upon by public and private companies, venture capital companies, institutional investors, lenders and government agencies seeking assistance with a range of advisory, transactional and contentious technology mandates. — The Legal 500 Canada
The technology team responds incredibly quickly and is willing to go above and beyond to find ways to help. — Chambers Canada
Clients note, " We have been introduced to several lawyers within Goodmans – each with impressive credentials that have been recognized as outstanding by our A-list investors during contract negotiations." — The Legal 500 Canada
Clients note, "The team at Goodmans has helped solidify our company’s reputation as a capable, innovative technology company that values excellence." — The Legal 500 Canada
Clients note, “Whenever I have any matters involving Canada, Goodmans is my first call. Every attorney I've interacted with has been responsive, knowledgeable, client-forward and fantastic.” — Chambers Canada
Goodmans LLP's breadth of knowledge covers the full spectrum of technology law issues including technology acquisitions, regulatory issues, privacy and data security, risk management and social media issues. — Legal 500 Canada
Clients note, "Goodmans is good at explaining things in business terms and are a very client-focused firm." — Chambers Canada
....well known for acting for technology suppliers, government entities and service providers on a range of IT-related M&A and outsourcing transactions. — Chambers Canada
....punches above its weight for big-ticket M&A in Canada, recently advising on substantial transactions in mining, energy, technology and cannabis sectors. — Chambers Global

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Scotiabank and Desjardins lead C$402.5 million offering of subscription receipts for Kraken Robotics

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Scotiabank and Desjardins lead C$402.5 million offering of subscription receipts for Kraken Robotics

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