By Laura Lutz
Des Moines, April 24 - ExelTech Aerospace Inc. arranged a private placement of units for C$12 million.
The company plans to sell 40 million units of one share and one half-share warrant at C$0.30 per unit. Each whole warrant will be exercisable at C$0.45 for two years.
The underwriters, a syndicate led by GMP Securities LP and including Dundee Securities Corp. and Versant Partners Inc., have a greenshoe for up to 8 million more units.
Proceeds will be used for facilities expansion, acquisitions, working capital and general corporate purposes.
Settlement is expected on May 15.
ExelTech is a Montreal-based commercial airframe maintenance, repair and overhaul vendor.
| Issuer: | ExelTech Aerospace Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$12 million
|
| Units: | 40 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Underwriters: | GMP Securities LP (lead), Dundee Securities Corp., Versant Partners Inc.
|
| Pricing date: | April 24
|
| Settlement date: | May 15
|
| Stock symbol: | TSX Venture: XLT
|
| Stock price: | C$0.345 at close April 23
|
© 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.
