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.

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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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