Offering slated to fund working capital and general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 16 - Input Capital Corp. said it will raise C$17.41 million in a private placement of stock.
The company will sell 10,881,250 common shares at C$1.60 per share. The price per share is a 4.76% discount to the Sept. 13 closing share price of C$1.68.
Settlement is expected on Oct. 4.
The company also plans a C$12.75 million public offering of stock at the same price. That sale will be conducted by a syndicate of underwriters led by GMP Securities LP and including Beacon Securities Ltd., National Bank Financial Inc., Acumen Capital Financial Partners Ltd., AltaCorp Capital Inc. and Cormark Securities Inc. on a bought-deal basis.
Proceeds will be used to enter into canola streaming contracts and for working capital and general corporate purposes.
The agricultural commodity streaming company is based in Regina, Sask.
| Issuer: | Input Capital Corp.
|
| Issue: | Common shares
|
| Amount: | C$17.41 million
|
| Shares: | 10,881,250
|
| Price: | C$1.60
|
| Warrants: | No
|
| Pricing date: | Sept. 16
|
| Settlement date: | Oct. 4
|
| Stock symbol: | TSX Venture: INP
|
| Stock price: | C$1.68 at close Sept. 13
|
| Market capitalization: | C$1.29 million
|
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