Offering led by Clarus will help fund general corporate purposes
By Toni Weeks
San Luis Obispo, Calif., July 19 - Lonestar West Inc. said it negotiated a C$10.14 million private placement of stock with a syndicate of underwriters led by Clarus Securities Inc. and including Industrial Alliance Securities Inc.
The company will sell 3.9 million shares at C$2.60 each on a bought-deal basis. The price per share is a 3.7% discount to the July 18 closing share price of C$2.70.
Settlement is scheduled for July 31.
Proceeds will be used for general corporate purposes.
Lonestar is a Sylvan Lake, Alta.-based provider of hydro-vacuum services.
| Issuer: | Lonestar West Inc.
|
| Issue: | Common shares
|
| Amount: | C$10.14 million
|
| Shares: | 3.9 million
|
| Price: | C$2.60
|
| Warrants: | No
|
| Underwriters: | Clarus Securities Inc. (lead), Industrial Alliance Securities Inc.
|
| Pricing date: | July 19
|
| Settlement date: | July 31
|
| Stock symbol: | TSX Venture: LSI
|
| Stock price: | C$2.70 at close July 18
|
| Market capitalization: | C$49.67 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.
