Brokered offering has C$1.5 million greenshoe; proceeds fund growth
By Devika Patel
Knoxville, Tenn., Dec. 9 - Easyhome Ltd. said it will conduct a private placement of stock. The deal will raise C$10 million and has a C$1.5 million greenshoe.
The company will sell 1,176,470 common shares at C$8.50 per share on a bought-deal basis. The price per share reflects a 1.96% discount to the Dec. 8 closing share price of C$8.67.
Raymond James Ltd. is the sole bookrunner and lead underwriter of a syndicate that includes Cormark Securities Inc. and Paradigm Capital Inc.
Settlement is expected Dec. 23
Proceeds will be used for growth initiatives at the company's easy financial services kiosks and general corporate purposes, including debt repayment.
Based in Toronto, Easyhome is in the business of leasing, with or without an option to purchase, household furnishing, appliances and home electronic products to consumers under weekly or monthly agreements.
| Issuer: | Easyhome Ltd.
|
| Issue: | Common shares
|
| Amount: | C$10 million
|
| Greenshoe: | C$1.5 million
|
| Shares: | 1,176,470
|
| Price: | C$8.50
|
| Warrants: | No
|
| Agents: | Raymond James Ltd. (lead), Cormark Securities Inc. and Paradigm Capital Inc.
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 23
|
| Stock symbol: | Toronto: EH
|
| Stock price: | C$8.70 at close Dec. 9
|
| Market capitalization: | C$91.25 million
|
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