Credit Suisse, Raymond James to raise funds to capitalize Stendal mill
By Devika Patel
Knoxville, Tenn., April 2 - Mercer International, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $7.06 million greenshoe in full, lifting total proceeds to $57.56 million. The deal was announced March 24 and priced for $50.05 million with the greenshoe on March 28.
The company sold 8.05 million common shares at $7.15 per share. The price per share is identical to the March 27 closing share price. Of the shares, 1.05 million were part of the fully exercised greenshoe.
Credit Suisse Securities (USA) LLC was the bookrunning manager.
Proceeds will be used to capitalize the Stendal mill, for targeted capital expenditures and for general working capital purposes.
Mercer is a pulp manufacturing company based in Vancouver, B.C., with U.S. headquarters in Seattle.
| Issuer: | Mercer International, Inc.
|
| Issue: | Common stock
|
| Amount: | $57,557,500, including $7,057,500 greenshoe
|
| Shares: | 8.05 million
|
| Price: | $7.15
|
| Warrants: | No
|
| Bookrunner: | Credit Suisse Securities (USA) LLC
|
| Co-manager: | Raymond James Ltd.
|
| Announcement date: | March 24
|
| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Stock symbol: | Nasdaq: MERC
|
| Stock price: | $7.15 at close March 27
|
| Market capitalization: | $414.93 million
|
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