By Devika Patel
Knoxville, Tenn., Feb. 7 - Intrinsyc Software International, Inc. announced it will conduct a C$30.03 million private placement of stock.
The company will sell 28.6 million common shares at C$1.05 each.
The deal is being conducted by a syndicate of underwriters co-led by GMP Securities LP and Canaccord Capital Corp. and including Haywood Securities Inc. and Raymond James Ltd. The underwriters have a greenshoe for up to 4.29 million shares, or C$4.5 million.
Settlement is expected Feb. 27.
Proceeds will be used for working capital and general corporate purposes, including possible future acquisitions.
Intrinsyc is a mobile software and services company based in Vancouver, B.C.
| Issuer: | Intrinsyc Software International, Inc.
|
| Issue: | Common shares
|
| Amount: | C$30.03 million
|
| Greenshoe: | For 4.29 million shares, or C$4,504,500
|
| Shares: | 28.6 million
|
| Price: | C$1.05
|
| Warrants: | No
|
| Underwriters: | GMP Securities L.P., Canaccord Capital Corp. (co-leads), Haywood Securities Inc., Raymond James Ltd.
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 27
|
| Stock symbol: | Toronto: ICS
|
| Stock price: | C$1.20 at close Feb. 6
|
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