12% unsecured debentures sold in units with 1,000 three-year warrants
By Toni Weeks
San Luis Obispo, Calif., Sept. 4 – The agent for EmberClear Corp.’s private placement of units fully exercised the over-allotment option, bringing total proceeds to C$2.3 million. The deal priced for C$2 million with a 15% greenshoe on July 7 and was conducted by agent Wolverton Securities Ltd. on a commercially reasonable-efforts basis.
The company sold 2,300 units at C$1,000.00 per unit. The units each consist of one C$1,000.00 12% unsecured debenture and 1,000 warrants.
The debentures are due in 18 months. The company may redeem the debentures at 103.
The three-year warrants are exercisable at C$0.20, a 66.67% premium to the closing share price of C$0.12 on July 4.
Proceeds will be used for general corporate purposes.
EmberClear is a Calgary, Alta.-based clean energy technology company.
| Issuer: | EmberClear Corp.
|
| Issue: | Units of C$1,000.00 in unsecured debentures and 1,000 warrants
|
| Amount: | C$2.3 million, including C$300,000 exercised greenshoe
|
| Units: | 2,300
|
| Price: | C$1,000.00
|
| Maturity: | Feb. 6, 2015
|
| Coupon: | 12%
|
| Call: | At 103
|
| Warrants: | 1,000 warrants per unit
|
| Warrant expiration: | Aug. 6, 2017
|
| Warrant strike price: | C$0.20
|
| Agent: | Wolverton Securities Ltd.
|
| Pricing date: | July 7
|
| Settlement dates: | Aug. 6 (for C$2 million); Sept. 4 (for C$300,000)
|
| Stock symbol: | TSX Venture: EMB
|
| Stock price: | C$0.12 at close July 4
|
| Market capitalization: | C$7.98 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.
