New York, March 18 - Magnifoam Technology International Inc. said it priced a C$10 million private placement of common stock.
The Mississauga, Ont., maker of products from silicone and other cellular materials sold 4.26 million shares at C$2.35 per share.
In addition, the deal has a greenshoe for 1.4 million shares.
Proceeds will be used for working capital and general corporate purposes.
| Issuer: | Magnifoam Technology International Inc.
|
| Issue: | Stock
|
| Amount: | C$10 million
|
| Shares: | 4.26 million
|
| Greenshoe: | 1.4 million
|
| Price: | C$2.35
|
| Warrants: | No
|
| Pricing date: | March 21
|
| Settlement: | April 7
|
| Stock price: | C$2.43
|
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