Ladenbug Thalmann is placement agent for best-efforts offering
By Marisa Wong
Madison, Wis., Nov. 4 - Nevada Gold Casinos, Inc. is offering units of common stock and warrants on a best-efforts basis for proceeds of $4.33 million, according to a 424B5 filing with the Securities and Exchange Commission.
Each unit consists of one common share and a warrant to purchase 0.75 of a share of common stock. The common shares and warrants will be issued separately but can only be purchased together in this offering.
The company has priced 2,625,652 common shares at $1.65 per share and five-year warrants to purchase up to 1,969,239 shares of common stock at an exercise price of $2.18 per share. The warrants are exercisable beginning six months after the issue date. The warrant strike price represents an 8.46% premium to the Nov. 2 closing share price of $2.01.
Ladenburg Thalmann & Co. Inc. is the placement agent.
Closing is expected to occur on Nov. 7.
Proceeds will be used to acquire all the shares of A.G. Trucano, Son & Grandsons, Inc. and for related acquisition expenses.
Nevada Gold is a Houston-based developer, owner and operator of gaming facilities in Colorado and Washington.
| Issuer: | Nevada Gold Casinos, Inc.
|
| Issue: | Units of common shares, warrants
|
| Amount: | $4,332,327
|
| Shares: | 2,625,652
|
| Price: | $1.65
|
| Warrants: | For a total of up to 1,969,239 common shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.18 per share
|
| Agent: | Ladenburg Thalmann & Co. Inc.
|
| Pricing date: | Nov. 4
|
| Settlement date: | Nov. 7
|
| Stock symbol: | NYSE: UWN
|
| Stock price: | $2.01 at close Nov. 2
|
| Market capitalization: | $25.99 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.
