By Laura Lutz
Des Moines, June 14 - Pizza Pizza Royalty Income Fund plans to complete a private placement of fund units for about C$7 million.
The units will be priced at C$9.15 each.
Michel Overs, chairman of Pizza Pizza Ltd., has agreed to subscribe for about C$3.5 million, and Flying Pizza 73 Inc. and its affiliated companies have agreed to subscribe for about the same amount.
The placement will settle following Pizza Pizza's acquisition of Flying Pizza 73.
The fund acquires the trademarks and trade names used by Pizza Pizza Ltd., a Toronto-based operator of pizza restaurants.
| Issuer: | Pizza Pizza Royalty Income Fund
|
| Issue: | Fund units
|
| Amount: | C$7 million (approximate)
|
| Price: | C$9.15
|
| Warrants: | No
|
| Investors: | Michael Overs (for about C$3.5 million); Flying Pizza 73 Inc. and affiliates (for about C$3.5 million)
|
| Pricing date: | June 13
|
| Stock symbol: | Toronto: PZA.UN
|
| Stock price: | C$9.44 at close June 13
|
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