Proceeds fund working capital; GMP and TD Securities were underwriters
By Devika Patel
Knoxville, Tenn., April 18 - Redknee Solutions Inc. said it completed a C$45.07 million private placement of special warrants, which are convertible into common stock. The deal priced for C$45.01 million with a C$6.75 million greenshoe on April 2.
The company sold 14,538,500 special warrants at C$3.10 apiece, a 6.91% discount to the April 1 closing share price of C$3.33. Of the warrants, 18,500 were part of the partially exercised greenshoe.
The sale was conducted by a syndicate of underwriters co-led by GMP Securities LP and TD Securities Inc. and including Canaccord Genuity Corp. and M Partners Inc.
Proceeds will be used for working capital.
Based in Mississauga, Ont., Redknee is a provider of billing and charging software and solutions for communications service providers.
| Issuer: | Redknee Solutions Inc.
|
| Issue: | Special warrants convertible into common shares
|
| Amount: | C$45,069,350 (including C$57,350 greenshoe)
|
| Special warrants: | 14,538,500
|
| Price: | C$3.10
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP and TD Securities Inc. (co-leads), Canaccord Genuity Corp. and M Partners Inc.
|
| Pricing date: | April 2
|
| Settlement date: | April 18
|
| Stock symbol: | Toronto: RKN
|
| Stock price: | C$3.33 at close April 1
|
| Market capitalization: | C$231.08 million
|
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