Bookrunners RBC Capital and Haywood Securities assisted with offering
By Devika Patel
Knoxville, Tenn., June 17 – Midway Gold Corp. said the underwriters for its public offering of stock opted to exercise the deal’s $2.5 million greenshoe in full for total proceeds of $27.5 million. The deal was announced May 29 and priced for $25 million with the greenshoe on May 30.
The company sold 33,133,000 common shares at $0.83 apiece. The price per share is a 6.74% discount to the May 29 closing share price of $0.89. Of the shares, 3,012,000 were part of the fully exercised greenshoe.
RBC Capital Markets and Haywood Securities (USA) Inc. were the joint bookrunning managers.
Proceeds will be used for construction and working capital at the Pan Project, Gold Rock development and permitting and general corporate purposes.
Midway, based in Vancouver, B.C., is a development-stage company that acquires, explores and develops gold and silver mineral properties in North America.
| Issuer: | Midway Gold Corp.
|
| Issue: | Common shares
|
| Amount: | $27,500,390 (including $2,500,043 greenshoe)
|
| Shares: | 33,133,000
|
| Price: | $0.83
|
| Warrants: | No
|
| Bookrunners: | RBC Capital Markets and Haywood Securities (USA) Inc.
|
| Co-managers: | Canaccord Genuity Corp. and Cormark Securities Inc.
|
| Announcement date: | May 29
|
| Pricing date: | May 30
|
| Settlement date: | June 17
|
| Stock symbol: | NYSE: MDW
|
| Stock price: | $0.89 at close May 29
|
| Market capitalization: | $112.65 million
|
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