By Sheri Kasprzak
New York, Oct. 31 - RCR Tomlinson Ltd. said it has received agreements from institutional and sophisticated investors for a A$14,448,000 private placement.
The company intends to sell up to 12.9 million shares at A$1.12 each.
Harleys Ltd. is the placement agent for the offering, the closing of which is contingent upon the completion of RCR's acquisition of Easteel Industries Ltd., Newman Engineering and Advanced Cutting Services.
Proceeds from the deal will be used for debt reduction following the acquisition.
Based in Welshpool, Western Australia, RCR Tomlinson makes and distributes tools used in the mining industry.
| Issuer: | RCR Tomlinson Ltd.
|
| Issue: | Stock
|
| Amount: | A$14,448,000
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| Shares: | 12.9 million
|
| Price: | A$1.12
|
| Warrants: | No
|
| Placement agent: | Harleys Ltd.
|
| Announcement date: | Oct. 31
|
| Stock price: | A$1.25 at close Oct. 31
|
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