By Sheri Kasprzak
Atlanta, Feb. 22 - Coastal Contacts Inc. said it has added a greenshoe to its previously announced C$8.8 million private placement.
The offering includes 8 million shares at C$1.10 each.
An underwriting syndicate led by Octagon Capital Corp. and Canaccord Capital Corp. now has the option to acquire up to 3.2 million additional shares for additional proceeds of C$3.52 million.
Based in Vancouver, B.C., Coastal Contacts markets and distributes contact lenses. The company plans to use the proceeds for expansion, sales and marketing, as well as working capital.
| Issuer: | Coastal Contacts Inc.
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| Issue: | Stock
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| Amount: | C$8.8 million
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| Shares: | 8 million
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| Greenshoe: | Up to 3.2 million shares
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| Price: | C$1.10
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| Warrants: | No
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| Underwriters: | Octagon Capital Corp. and Canaccord Capital Corp.
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| Amended: | Feb. 22
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| Stock price: | C$1.30 at close Feb. 22
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