Company also to acquire Entrec Transportation from Flint Energy
By Devika Patel
Knoxville, Tenn., April 8 - EIS Capital Corp. said it has negotiated a C$17.5 million private placement of stock alongside a planned acquisition of Entrec Transportation Services Ltd. as well as certain assets used to conduct Entrec's business from Flint Energy Services Ltd.
EIS will sell 17.5 million common shares at C$1.00 per share, which is an 11.11% premium to the April 7 closing share price of C$0.90. The deal has a 15% greenshoe.
Stifel Nicolaus Canada Inc. is the agent.
The company also has arranged a C$15 million five-year credit facility with Canadian Western Bank.
A portion of the proceeds from the debt facility and placement will finance the acquisition, which will be the company's qualifying transaction.
The capital pool company is based in Calgary, Alta.
| Issuer: | EIS Capital Corp.
|
| Issue: | Common stock
|
| Amount: | C$17.5 million
|
| Greenshoe: | 15%
|
| Shares: | 17.5 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Agent: | Stifel Nicolaus Canada Inc.
|
| Pricing date: | April 8
|
| Stock symbol: | TSX Venture: EIE.P
|
| Stock price: | C$0.90 at close April 7
|
| Market capitalization: | C$2.25 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
