Best-efforts offering raises proceeds for capital expenditure program
By Devika Patel
Knoxville, Tenn., Aug. 8 - DevCorp Capital Inc. said it will raise between C$8 million and C$10 million in a private placement of subscription receipts.
The company will sell subscription receipts at C$0.20 apiece. The purchase price is a 100% premium to C$0.10, the Aug. 7 closing share price.
Each subscription receipt will be automatically converted into common share.
The offering is being conducted on a best-efforts basis by a syndicate of agents co-led by Canaccord Genuity Corp. and Macquarie Private Wealth Inc. and including MGI Securities Inc.
Settlement is expected Aug. 28.
Proceeds will be used for the GTG Transaction, the 2013 capital expenditure program and general corporate purposes.
The capital pool company is based in Calgary, Alta.
| Issuer: | DevCorp Capital Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$8 million (minimum), C$10 million (maximum)
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agents: | Canaccord Genuity Corp. and Macquarie Private Wealth Inc. (co-leads), MGI Securities Inc.
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 28
|
| Stock symbol: | TSX Venture: DCC.P
|
| Stock price: | C$0.10 at close Aug. 7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
