By Devika Patel
Knoxville, Tenn., Nov. 14 - Nstein Technologies Inc. said it has entered into an agreement with a syndicate of underwriters led by Desjardins Securities Inc. and including TD Securities Inc. and Jennings Capital Inc. for a C$8 million private placement of special warrants.
The company will sell 8 million special warrants at C$1.00 apiece on a bought-deal basis. Each warrant is convertible into one share at no additional cost after closing, which is expected to occur on Nov. 28.
The underwriters have a greenshoe for 7 million special warrants, or C$7 million.
Proceeds will be used for development, infrastructure deployment, for working capital purposes and potential acquisitions.
Montreal-based Nstein develops content-management software for the media, publishing and entertainment industries.
| Issuer: | Nstein Technologies Inc.
|
| Issue: | Special warrants convertible into common shares
|
| Amount: | C$8 million
|
| Greenshoe: | 7 million warrants, or C$7 million
|
| Warrants: | 8 million
|
| Price: | C$1.00
|
| Underwriters: | Desjardins Securities Inc. (lead), TD Securities Inc., Jennings Capital Inc.
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 28
|
| Stock symbol: | TSX Venture: EIN
|
| Stock price: | C$1.06 at close Nov. 13
|
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