Danaos seeks $200 million; Document Capture gets NCR investment; Antioquia Gold plans offering

By Stephanie N. Rotondo

Portland, Ore., Aug. 9 - Danaos Corp. announced one of Monday's largest deals, a $200 million private placement of stock.

The company is selling the stock at a discount. In addition to the financing news, the company also said it had signed an agreement with its bank lenders to revise old facilities and to get new credit lines.

Meanwhile, Document Capture Technologies Inc. said it received a $4 million strategic investment from NCR Corp. by way of a private placement of stock. The proceeds will be used to support operations.

And, Antioquia Gold Inc. will raise more than C$3 million from a private placement of equity, the company said in a press release. There was only one participating investor.

Danaos seeks $200 million

Danaos, a Piraeus, Greece-based containership company, brought a $200 million private placement of common stock to market, according to a press release.

Participating investors include a family trust of John Coustas, the company's largest shareholder and chief executive officer, as well as a private company affiliated with George Economou, the CEO of DryShips, Inc.

Members of Danaos' management team are also expected to participate.

The company is selling approximately 54.05 million of the shares at $3.70 per share. The price per share is a 5.9% discount to the 30-day volume-weighted average share price of $3.93 per share and a 6.6% discount to the 60-day volume-weighted average share price of $3.96 per share, the release said.

Additionally, Danaos announced it had inked a deal with its bank lenders to "modify its existing debt obligations and provide new credit facilities." The company will receive $426 million in new debt financing and will also see certain terms of its approximately $3 billion in debt revised.

Danaos' stock (NYSE: DAC) gained 4 cents, or 0.94%, to $4.30. Market capitalization is $234.56 million.

Document Capture gets NCR investment

Document Capture Technologies pocketed $4 million from a private placement of stock, according to a regulatory filing.

NCR Corp. was the investor. NCR has an option, under the placement agreement, to purchase another $4 million of equity over the next two years.

Document Capture issued approximately 3.86 million common shares at about $1.036 each. The price per share was a 91.85% premium over the Aug. 4 closing share price of $0.54.

Proceeds will be used to support operations and the marketing and promotion of products, for product tooling and engineering, research and development and strategic investments and transactions and working capital.

Document Capture's equity (OTCBB: DCMT) firmed by a penny, or 1.18%, to $0.86. Market capitalization is $16.69 million.

Document Capture Technologies is a San Jose, Calif.-based developer and designer of various document capture technology solutions to all types and sizes of enterprises.

Antioquia to sell stock

Antioquia Gold will privately place C$3.23 million of stock, the company announced.

Desafio Minero S.A.C. is the investor.

The Calgary, Alta.-based mineral exploration company will issue approximately 16.17 million common shares in the non-brokered deal. Each share will sell at C$0.20, an 18.37% discount to the Aug. 6 closing share price of C$0.245.

"The investment by Desafio provides Antioquia with a strategic partner who not only understands and mines similar geological structures in Peru as the Cisneros Project but also provides synergies between the two companies that can advance Cisneros towards production and allow both companies to further explore Colombia," remarked Rick Thibault, president and CEO, in a press release.

"We view this placement as a major vote of confidence in our exploration properties. This addition to our treasury comes at a critical point in our exploration program and places Antioquia in a solid position to continue to explore our existing projects."

Antioquia's shares (TSX Venture: AGD) inched up half a cent, or 2.04%, to C$0.25. Market capitalization is C$16.17 million.

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