By Sheri Kasprzak
Atlanta, Feb. 4 - Leader Energy Services Ltd. has again upsized its previously announced C$5 million private placement, this time to C$10 million.
The upsized offering includes up to 8 million units at C$1.25 each. The units include one share and one half-share warrant.
The whole warrants allow for an additional share at C$1.70 each for two years.
So far, C$5.75 million has been raised in the offering.
The deal was first announced Dec. 1 as a C$5 million offering of up to 4 million units at C$1.25 each. On Jan. 28, the offering was upsized to C$7.25 million, or 5.8 million units at C$1.25 each.
Placement agent Research Capital Corp. also has an over-allotment option equal to 15% of the number of units sold in the offering. The greenshoe is exercisable for 60 days after closing.
Based in Calgary, Alta., Leader provides field services for oil and gas well stimulation. The company plans to use the proceeds from the offering for the purchase of one deep-coiled tubing unit, two nitrogen pumper units, two nitrogen bulker units and for working capital.
| Issuer: | Leader Energy Services Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million
|
| Shares: | 8 million
|
| Price: | C$1.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.70
|
| Greenshoe: | For 15% of the units sold
|
| Placement agent: | Research Capital Corp.
|
| Announcement date: | Dec. 1
|
| Upsized: | Feb. 4
|
| Stock price: | C$1.40 at close Dec. 1
|
| Stock price: | C$1.55 at close Feb. 3
|
|
|
© 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.
