By Devika Patel
Knoxville, Tenn., May 16 - Nevada Geothermal Power Inc. said it has settled a C$15 million private placement of stock. The deal priced on April 24 for C$10 million with a C$5 million greenshoe.
The company sold 15 million common shares at C$1.00 each. Of the shares, 10 million were sold on a bought-deal basis and the remaining 5 million were part of the fully exercised greenshoe.
Dundee Securities Corp. led a syndicate of underwriters for this deal.
Proceeds will be for development at the Blue Mountain Geothermal site, development of other projects and working capital.
Nevada Geothermal is a renewable energy company based in Vancouver, B.C.
| Issuer: | Nevada Geothermal Power Inc.
|
| Issue: | Common shares
|
| Amount: | C$15 million (including C$5 million greenshoe)
|
| Shares: | 15 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Corp. (lead)
|
| Pricing date: | April 24
|
| Settlement date: | May 16
|
| Stock symbol: | TSX Venture: NGP
|
| Stock price: | C$1.02 at close April 23
|
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