By Devika Patel
Knoxville, Tenn., July 11 - Pinetree Capital Ltd. said it completed a C$43.19 million private placement of units. The deal priced for C$40 million with a C$6 million greenshoe on June 20.
The company sold 17,277,300 units at C$2.50 apiece. Of the units, 1,277,300 were part of the partially exercised greenshoe.
Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable for five years at C$3.50.
Genuity Capital Markets and PowerOne Capital Markets Ltd. were co-lead agents of a syndicate that included Canaccord Capital Corp. and Thomas Weisel Partners Canada Inc.
Proceeds will be used for future investment activities, debt repayment and for general corporate purposes.
Pinetree is an investment banking company based in Toronto.
| Issuer: | Pinetree Capital Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$43,193,250 (including C$3,193,250 greenshoe)
|
| Units: | 17,277,300
|
| Price: | C$2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$3.50
|
| Agents: | Genuity Capital Markets, PowerOne Capital Markets Ltd. (co-leads), Canaccord Capital Corp., Thomas Weisel Partners Canada Inc.
|
| Pricing date: | June 20
|
| Settlement date: | July 11
|
| Stock symbol: | Toronto: PNP
|
| Stock price: | C$2.62 at close June 19
|
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