By Devika Patel
Knoxville, Tenn., Nov. 17 - Fluid Music Canada, Inc. said its private placement of stock has been increased to C$16.2 million from C$10 million. The deal priced on Nov. 11.
The company is selling about 9.26 million common shares at C$1.75 apiece on a best-efforts basis.
Desjardins Securities Inc. and Octagon Capital Corp. are the agents.
Proceeds will be used for general corporate purposes.
Fluid Music Canada is a private label music distribution company in Toronto.
| Issuer: | Fluid Music Canada, Inc.
|
| Issue: | Common shares
|
| Amount: | C$16.2 million
|
| Shares: | 9.26 million (approximate)
|
| Price: | C$1.75
|
| Warrants: | No
|
| Agent: | Desjardins Securities Inc. and Octagon Capital Corp.
|
| Pricing date: | Nov. 11
|
| Upsized: | Nov. 18
|
| Stock symbol: | Toronto: FMN
|
| Stock price: | C$1.79 at close Nov. 11
|
| Market capitalization: | C$94.5 million
|
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