C$1.5 million greenshoe fully exercised; deal's proceeds fund growth
By Devika Patel
Knoxville, Tenn., Dec. 23 - Easyhome Ltd. said it completed a private placement of stock. The deal priced for C$10 million with a C$1.5 million greenshoe on Dec. 9 and raised C$11.5 million.
The company sold 1,352,940 common shares at C$8.50 per share on a bought-deal basis. Of the shares, 176,470 were part of the fully exercised greenshoe. The price per share reflects a 1.96% discount to the Dec. 8 closing share price of C$8.67.
Raymond James Ltd. was the bookrunner and lead underwriter of a syndicate that included Cormark Securities Inc. and Paradigm Capital Inc.
Proceeds will be used for growth initiatives at the company's easyfinancial services kiosks and for 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$11.5 million, including fully exercised C$1.5 million greenshoe
|
| Shares: | 1,352,940
|
| 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$95.45 million
|
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