UPDATE 1-Pure Technologies prices stock offering, shares rise

TORONTO, Feb 10 (Reuters) - Pure Technologies Ltd, which makes technology that monitors the soundness of major structures such as bridges and pipelines, could raise as much as C$35 million ($32.7 million) in an equity offering that may be used partly to finance acquisitions.

Calgary, Alberta-based Pure Technologies said on Wednesday it priced its offering of at least 7 million common shares at C$4.30 each.

Agents for the offering, scheduled to close on or about Feb. 23, have an option for an additional 1,050,000 common shares.

Shares in Pure Technologies were 3.16 percent higher at C$4.90 at midmorning on Wednesday on the Toronto Stock Exchange.

Canaccord Financial Ltd is the lead agent and sole bookrunner on the deal, on behalf of a syndicate of agents that includes Boenning & Scattergood for private placement sales in the United States.

'The net proceeds from the offering will be used by Pure for general working capital purposes, for further commercialization of existing and new technologies, for the development of new opportunities, acquisition of capital assets and to pursue acquisitions of assets and entities complementary to Pure's business and operations,' Pure Technologies said in a statement.

The company has developed patented technologies for inspection, monitoring and management of global infrastructure, like SoundPrint, a continuous acoustic structural monitoring system for buildings, bridges and structures.

In June last year, the company said it would acquire the assets of Pipe Eye International, a provider of long-range specialty robotic inspection services based in Las Vegas, Nevada. The price of the transaction was not revealed.

($1=$1.07 Canadian)

(Reporting by Pav Jordan; editing by Peter Galloway) Keywords: PURETECHNOLOGIES/ ([e-mail]; [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.