By Sheri Kasprzak
New York, April 27 - Pinetree Capital Ltd. said the greenshoe on its previously announced PIPE was exercised, bringing the total proceeds to C$34.5 million.
The company sold 2.3 million shares, including the over-allotment option for 800,000 shares exercised by placement agent Westwind Partners Inc., at C$15.00 each.
The deal priced on March 30 as a C$22.5 million offering of 1.5 million shares.
Westwind had originally been granted a greenshoe for only 500,000 shares. That was increased to 800,000 on April 17.
Based in Toronto, Pinetree is an investment, financial advisory and merchant banking firm focused on the oil, uranium, precious metals and base metals sectors.
Issuer: | Pinetree Capital Ltd.
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Issue: | Stock
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Amount: | C$34.5 million
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Shares: | 2.3 million (includes greenshoe for 800,000 shares)
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Price: | C$15.00
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Warrants: | No
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Placement agent: | Westwind Partners Inc.
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Pricing date: | March 30
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Settlement date: | April 27
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Stock symbol: | Toronto: PNP
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Stock price: | C$17.75 at close March 30
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Stock price: | C$19.10 at close April 27
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