By Susanna Moon
Chicago, Sept. 29 - Noveko International Inc. said it priced a best-efforts private placement of units for C$13.5 million.
The company plans to sell units of one class A share and one half-share warrant at C$2.20 per unit. Each whole warrant will be exercisable at C$3.00 for 36 months.
Agents have an option for another 15% of the deal size, exercisable at any time up to 48 hours before the closing on Oct. 8.
Expiry of the warrants may be accelerated to 30 days if the weighted average price of the company's shares is at least C$4.50 for 20 consecutive trading days.
Desjardins Securities Inc. will lead a syndicate of agents that also includes GMP Securities LP, National Bank Financial Inc. and Paradigm Capital Inc.
Montreal-based Noveko designs and markets ultrasound scanners.
| Issuer: | Noveko International Inc.
|
| Issue: | Units of one class A share and one half-share warrant
|
| Amount: | C$13.5 million
|
| Greenshoe: | For up to 15%
|
| Price: | C$2.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 36 months
|
| Warrant strike price: | C$3.00
|
| Agents: | Desjardins Securities Inc. (lead), GMP Securities LP, National Bank Financial Inc. and Paradigm Capital Inc.
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 8
|
| Stock symbol: | Toronto: EKO
|
| Stock price: | C$2.23 at close on Sept. 28
|
| Market capitalization: | C$147.42 million
|
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