Company offers 7.5 million shares via underwriter Haywood Securities
By Devika Patel
Knoxville, Tenn., May 20 - Midway Gold Corp. said it priced a $12 million public sale of stock through underwriter Haywood Securities Inc.
The company will sell 7.5 million common shares at $1.60 apiece. The price per share is a 4.58% premium to the May 19 closing share price of $1.53.
Settlement is expected June 6.
Proceeds will be used for acquisitions, development and exploration activities on the company's Nevada and Washington properties, working capital requirements, debt repayment or other general corporate purposes.
The gold and silver exporer is based in White Rock, B.C.
Issuer: | Midway Gold Corp.
|
Issue: | Common shares
|
Amount: | $12 million
|
Shares: | 7.5 million
|
Price: | $1.60
|
Warrants: | No
|
Underwriter: | Haywood Securities Inc.
|
Pricing date: | May 20
|
Settlement date: | June 6
|
Stock symbol: | Amex: MDW
|
Stock price: | $1.72 at close May 20
|
Market capitalization: | $173.78 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.