By Devika Patel
Knoxville, Tenn., June 11 - Martinrea International Inc. said it has arranged a bought-deal C$48.5 million private placement of common shares.
The company will sell 10 million shares at C$4.85 apiece.
The deal will be conducted by GMP Securities LP and a syndicate of dealers, which includes Paradigm Capital Inc. and TD Securities Inc. There is a C$7.28 million greenshoe.
Settlement is expected on June 25.
Proceeds will be used for working capital and general corporate purposes.
Based in Vaughan, Ont., Martinrea designs, engineers, manufactures and sells metal parts, assemblies and fluid management systems.
| Issuer: | Martinrea International Inc.
|
| Issue: | Common shares
|
| Amount: | C$48.5 million
|
| Greenshoe: | C$7,275,000
|
| Shares: | 10 million
|
| Price: | C$4.85
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP, Paradigm Capital Inc. and TD Securities Inc.
|
| Pricing date: | June 11
|
| Settlement date: | June 25
|
| Stock symbol: | Toronto: MRE
|
| Stock price: | C$5.25 at close June 10
|
| Market capitalization: | C$367 million
|
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