Offering conducted through sole placement agent BMO Capital Markets
By Devika Patel
Knoxville, Tenn., July 26 - Lassonde Industries Inc. said it plans a C$31.5 million private placement of subscription receipts. The deal was announced as a C$30 million offering on Monday.
The company will sell 420,000 receipts at C$75.00 apiece, a 0.73% discount to the July 25 closing share price of C$75.55. Each subscription receipt will be exchangeable for one class A subordinate voting share.
The deal will be conducted by BMO Capital Markets.
Settlement is expected Aug. 5.
Proceeds will fund the company's planned acquisition of a controlling interest in Clement Pappas and Co., Inc.
The manufacturer of specialty food products is based in Rougemont, Quebec.
| Issuer: | Lassonde Industries Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$31.5 million
|
| Receipts: | 420,000
|
| Price: | C$75.00
|
| Warrants: | No
|
| Agent: | BMO Capital Markets
|
| Announcement date: | July 25
|
| Pricing date: | July 26
|
| Settlement date: | Aug. 5
|
| Stock symbol: | Toronto: LAS.A
|
| Stock price: | C$75.55 at close July 25
|
| Market capitalization: | C$212.7 million
|
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