By Susanna Moon
Chicago, July 12 - ZipLocal Inc. said it priced its private placement of special warrants at C$0.22 per special warrant for proceeds of C$6 million.
Each special warrant will be exchangeable for one common share.
The deal was announced on June 14 at up to C$10 million.
GMP Securities LP, the lead agent, has a greenshoe for up to about C$900,000 of additional special warrants, down from C$1.5 million announced earlier.
The deal is expected to close July 26.
The syndicate of agents will also include Orion Securities Inc., Canaccord Securities Inc. and Cormark Securities Inc.
Members of the J.L. Albright Ventures group of funds have agreed to purchase up to C$1.5 million of the private placement.
Toronto-based ZipLocal maintains a business directory.
| Issuer: | ZipLocal Inc.
|
| Issue: | Special warrants
|
| Amount: | C$6 million
|
| Greenshoe: | C$900,000
|
| Price: | C$0.22
|
| Investors: | Members of the J.L. Albright Ventures group of funds for up to C$1.5 million.
|
| Agents: | GMP Securities LP (lead), Orion Securities Inc., Canaccord Securities Inc. and Cormark Securities Inc.
|
| Announcement date: | June 14
|
| Pricing date: | July 12
|
| Settlement date: | July 26
|
| Stock symbol: | TSX Venture: ZIP
|
| Stock price: | C$0.35 at close June 14
|
| Stock price: | C$0.25 at close July 11
|
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