By Sheri Kasprzak
Atlanta, March 16 - Ag Growth Income Fund said it will raise C$21.5 million in a private placement as part of its acquisition of The Edwards Group of Companies.
The company plans to sell 1,592,592 trust units at C$13.50 each.
TD Securities Inc. is the placement agent.
The deal is expected to close March 31.
Ag Growth plans to use the proceeds to acquire all of the assets of The Edwards Group of Companies. The acquisition is expected to close C$20 million, with expenses related to the acquisition totaling C$1.5 million. That acquisition is expected to close at the same time the private placement is scheduled to close.
Edwards is an agricultural equipment manufacturing company.
Based in Rosenort, Manitoba, Ag Growth manufactures portable grain handling equipment.
| Issuer: | Ag Growth Income Fund
|
| Issue: | Trust units
|
| Amount: | C$21.5 million
|
| Trust units: | 1,592,592
|
| Price: | C$13.50
|
| Warrants: | No
|
| Placement agent: | TD Securities Inc.
|
| Pricing date: | March 15
|
| Settlement date: | March 31
|
| Stock price: | C$13.90 at close March 15
|
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