By Devika Patel
Knoxville, Tenn., May 10 - Fluid Music Canada, Inc. said it completed a C$60 million private placement of subscription receipts.
The company sold 37.5 million receipts at C$1.60 apiece.
The offering was led by agent BMO Capital Markets.
Each receipt will be automatically converted into one common share.
Proceeds will be used to fund Fluid's planned acquisition of all of the outstanding shares and debt of Mood Media Group SA.
Fluid Music Canada is a private-label music distribution company in Toronto.
| Issuer: | Fluid Music Canada, Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$60 million
|
| Receipts: | 37.5 million
|
| Price: | C$1.60
|
| Warrants: | No
|
| Agent: | BMO Capital Markets (lead)
|
| Settlement date: | May 10
|
| Stock symbol: | Toronto: FMN
|
| Stock price: | C$2.00 at close May 7
|
| Market capitalization: | C$126 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.
