Assante Corp. announced that it has concluded a series of arrangements to further simplify its share structure, and raise new cash.

Along with transactions that collectively reduce the number of fully diluted shares on an annualized basis by 2,300,000, Assante also announced that it and certain U.S. shareholders entered into an underwriting agreement with CIBC World Markets Inc. to issue 4,900,000 special warrants, raising $30 million for the company.

If CIBC elects to fully exercise its option to purchase an additional 3,150,000 special warrants, the gross proceeds to the company would increase to $51 million before issue costs.

Assante has been focused on eliminating its complicated share structure to make the company more appealing to investors.