DragonWave (NASDAQ:DRWI) plans to sell C$21.5M ($20M) worth of stock and warrants through a public offering. The offering will consist of units featuring one share and 0.5 warrants. Each warrant can be converted into a share at a specified price.
The mobile backhaul hardware vendor had $15.6M in cash as of May 31, and $17.5M in debt.
Shares have been halted.