Offer conducted through joint bookrunners Roth Capital, Euro Pacific
By Devika Patel
Knoxville, Tenn., Feb. 28 - Neptune Technologies & Bioressources Inc. said it priced a $25 million public sale of stock with a $3.75 million greenshoe.
The company will sell 10 million common shares at $2.50 apiece. The price per share is a 16.11% discount to the Feb. 27 closing share price of $2.98.
Roth Capital Partners and Euro Pacific Canada Inc. are the joint bookrunning managers.
Settlement is expected March 5.
Proceeds will be used for sales, marketing and distribution of the company's krill oil products, to support subsidiary NeuroBioPharm Inc., for the start-up and ramp-up of the company's new production facility, to maintain, manage and develop the company's intellectual property portfolio and for general corporate and other working capital purposes.
Based in Laval, Quebec, Neptune Technologies develops nutritional products from marine biomasses.
| Issuer: | Neptune Technologies & Bioressources Inc.
|
| Issue: | Common shares
|
| Amount: | $25 million
|
| Greenshoe: | $3.75 million
|
| Shares: | 10 million
|
| Price: | $2.50
|
| Warrants: | No
|
| Bookrunners: | Roth Capital Partners and Euro Pacific Canada Inc.
|
| Lead manager: | National Securities Corp.
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Stock symbol: | Nasdaq: NEPT
|
| Stock price: | $2.98 at close Feb. 27
|
| Market capitalization: | $162.71 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.
