Offering proceeds used for debt reduction, general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 26 - Mediagrif Interactive Technologies Inc. said on Nov. 22 that it planned a C$29.75 million private placement of stock with a C$5 million greenshoe. On Monday, the company announced that the greenshoe had been fully exercised. The C$34.75 million deal is being conducted on a bought-deal basis by National Bank Financial Inc. and a syndicate of underwriters.
The company sold 1,986,000 common shares at C$17.50 per share. Of the shares, 286,000 are part of the greenshoe. The price per share is a 0.58% premium to C$17.40, the Nov. 21 closing share price.
Settlement is expected Dec. 6.
Proceeds will be used to reduce debt and for general corporate purposes.
Mediagrif is a Longeuil, Quebec, developer, owner and operator of e-business networks.
| Issuer: | Mediagrif Interactive Technologies Inc.
|
| Issue: | Common stock, flow-through common stock
|
| Amount: | C$34.75 million (including C$5 million greenshoe exercise)
|
| Shares: | 1,986,000
|
| Price: | C$17.50
|
| Warrants: | No
|
| Underwriter: | National Bank Financial Inc.
|
| Pricing date: | Nov. 22
|
| Settlement date: | Dec. 6
|
| Stock symbol: | Toronto: MDF
|
| Stock price: | C$17.40 at close Nov. 21
|
| Market capitalization: | C$244.37 million
|
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