Deal has C$500,000 greenshoe, funds general working capital purposes
By Devika Patel
Knoxville, Tenn., March 29 – Eguana Technologies Inc. said it will conduct a C$1 million private placement of stock. The deal has a C$500,000 greenshoe and is being conducted on a best-efforts basis by agent Bayfront Capital Partners, Ltd.
The company will sell 8,333,333 common shares at C$0.12 per share. The price per share reflects a 20% discount to the March 28 closing share price of C$0.15.
Settlement is expected April 4.
Proceeds will be used for general working capital purposes.
Based in Calgary, Alta., Eguana makes intelligent low-voltage power electronics platforms for distributed smart grid and energy storage applications.
| Issuer: | Eguana Technologies Inc.
|
| Issue: | Common shares
|
| Amount: | C$1 million
|
| Greenshoe: | C$500,000, or 4,166,666 shares
|
| Shares: | 8,333,333
|
| Price: | C$0.12
|
| Warrants: | No
|
| Agents: | Bayfront Capital Partners, Ltd.
|
| Pricing date: | March 29
|
| Settlement date: | April 4
|
| Stock symbol: | TSX Venture: EGT
|
| Stock price: | C$0.15 at close March 28
|
| Market capitalization: | C$23.41 million
|
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