By Devika Patel
Knoxville, Tenn., June 25 - Martinrea International Inc. said it has completed a bought-deal C$55.78 million private placement of common shares. The deal priced for C$48.5 million with a C$7.28 million greenshoe on June 11.
The company sold 11.5 million shares at C$4.85 apiece. Of the shares, 1.5 million were part of the fully exercised greenshoe.
The deal was conducted by GMP Securities LP and a syndicate of dealers, which includes Paradigm Capital Inc. and TD Securities Inc.
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$55,775,000 (including C$7,275,000 greenshoe)
|
| Shares: | 11.5 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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