Company also to acquire Entrec Transportation from Flint Energy
By Devika Patel
Knoxville, Tenn., April 29 - EIS Capital Corp. said it increased a private placement of stock to C$26 million from C$17.5 million. The deal priced April 8 and is being conducted 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 now sell 26 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.
Stifel Nicolaus Canada Inc. is the lead agent.
The company also has arranged a $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$26 million
|
| Shares: | 26 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Agent: | Stifel Nicolaus Canada Inc. (lead)
|
| Pricing date: | April 8
|
| Upsized: | April 29
|
| Stock symbol: | TSX Venture: EIE.P
|
| Stock price: | C$0.90 at close April 7
|
| Market capitalization: | C$2.25 million
|
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