By Devika Patel
Knoxville, Tenn., Dec. 12 - EnGlobe Corp. announced it settled an C$18.84 million private placement of series 3 preferred shares.
The company sold 188,362,000 preferreds at C$0.10 apiece to ONCAP II, LP.
The 6% preferreds are non-voting securities and convertible on the basis of one common share for each preferred at a conversion price of C$0.10 per share.
The preferreds are redeemable after Nov. 15, 2018 at the issue price plus all dividends up to but excluding the redemption date.
EnGlobe is an international integrated environmental services company based in Burlington, Ont.
| Issuer: | EnGlobe Corp.
|
| Issue: | Series 3 preferred shares
|
| Amount: | C$18,836,200
|
| Shares: | 188,362,000
|
| Dividends: | 6%
|
| Price: | C$0.10
|
| Conversion price: | C$0.10
|
| Warrants: | No
|
| Investor: | ONCAP II, LP
|
| Settlement date: | Dec. 12
|
| Stock symbol: | Toronto: EG
|
| Stock price: | C$0.04 at close Dec. 12
|
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