VC-backed DIRTT Environmental Solutions files for $45 mln IPO

Calgary-based DIRTT Environmental Solutions Ltd, a technology-focused manufacturer and distributor of highly-customized interiors, has filed a prospectus with provincial securities regulatory authorities across Canada in connection with an initial public offering of common shares. The company aims to raise gross proceeds of $45 million. Founded in 2001, DIRTT has secured a total of US$47.7 million in venture capital funding to date. Its Canadian and U.S.-based backers include Apex Venture Partners, EDC Equity Fund, Expansion Capital Partners, Kayne Anderson Capital Advisors, NGEN Partners and North Sky Capital.

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