Offer conducted via lead agent Raymond James with C$838,500 greenshoe
By Devika Patel
Knoxville, Tenn., Jan. 26 - Omni-Lite Industries Canada Inc. said it will conduct a private placement on a bought-deal basis via a syndicate of underwriters led by Raymond James Ltd. There is a C$838,500 greenshoe for the C$5.59 million deal.
The company will sell 2.6 million units of one common share and one half-share warrant at C$2.15 per unit. Each whole two-year warrant will be exercisable at C$2.70. The strike price reflects a 23.85% premium to the Jan. 25 closing share price of C$2.18.
Settlement is expected Feb. 16.
Proceeds will be used to fund the company's pipeline of near-term program opportunities, particularly in the military and automotive divisions, as well as for general corporate purposes.
Omni-Lite, based in Cerritos, Calif., is a technology company that develops and manufactures components used by several U.S.-based retail manufacturers.
Issuer: | Omni-Lite Industries Canada Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$5.59 million
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Greenshoe: | C$838,500
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Units: | 2.6 million
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Price: | C$2.15
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$2.70
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Agent: | Raymond James Ltd. (lead)
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Pricing date: | Jan. 26
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Settlement date: | Feb. 16
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Stock symbol: | TSX Venture: OML
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Stock price: | C$2.31 at close Jan. 26
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Market capitalization: | C$23.64 million
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