Non-brokered offering sells 20 million common shares at C$0.15 apiece
By Devika Patel
Knoxville, Tenn., Dec. 15 – Enablence Technologies Inc. said it raised C$2.7 million in the initial tranche of a C$3 million non-brokered private placement of stock. The deal priced Nov. 28.
The company is selling 20 million common shares at C$0.15 per share, which is a 150% premium to the Nov. 27 closing share price of C$0.06. Enablence sold 18 million shares in the first tranche.
A 6% finder’s fee in the form of 1.08 million common shares was paid to MHW Capital Co., Ltd.
Proceeds will be used to meet obligations, including debt repayment and working capital.
Based in Ottawa, Enablence designs and manufactures optical components.
| Issuer: | Enablence Technologies Inc.
|
| Issue: | Common stock
|
| Amount: | C$3 million
|
| Units: | 20 million
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 15 (for C$2.7 million)
|
| Stock symbol: | TSX Venture: ENA
|
| Stock price: | C$0.06 at close Nov. 27
|
| Market capitalization: | C$9.45 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.
