Company sells 2,155,172 subscription receipts at C$11.60 each
By Devika Patel
Knoxville, Tenn., Dec. 2 - New Look Eyewear Inc. said it completed a C$25 million private placement of subscription receipts. The deal priced for C$21.75 million with a C$3.25 million greenshoe on Nov. 20.
The company sold 2,155,172 subscription receipts at C$11.60 apiece, a 5.92% discount to the Nov. 19 closing share price of C$12.33. Of the receipts, 280,172 were part of the greenshoe.
Each subscription receipt converts to a series A common share.
The deal was conducted on a bought-deal basis by a syndicate led by GMP Securities LP and including Acumen Capital Finance Partners Ltd. and National Bank Financial Inc.
The provider of eye care products and services is based in Montreal.
| Issuer: | New Look Eyewear Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$25 million (including C$3.25 million greenshoe)
|
| Receipts: | 2,155,172
|
| Price: | C$11.60
|
| Warrants: | No
|
| Agents: | GMP Securities LP (lead), Acumen Capital Finance Partners Ltd. and National Bank Financial Inc.
|
| Pricing date: | Nov. 20
|
| Settlement date: | Dec. 2
|
| Stock symbol: | Toronto: BCI
|
| Stock price: | C$12.33 at close Nov. 19
|
| Market capitalization: | C$156.29 million
|
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