Rentcash adds greenshoe option to C$6.4 million private placement offering

By Sheri Kasprzak

Atlanta, Dec. 2 - Rentcash Inc. said Wednesday it has added a greenshoe option to its previously announced C$6.4 million private placement.

Underwriter Acumen Capital Finance Partners Ltd. will now have the option to offer an additional 300,000 shares in the deal for an additional C$1.92 million. The additional funds will bring to C$8.32 million the total amount that could potentially be raised in the offering.

The deal was originally announced Wednesday for 1 million shares at C$6.40 each.

The offering is scheduled to close Dec. 16.

Based in Edmonton, Alta., Rentcash operates a payday cash advance service and a service that provides debit cards for those who cannot obtain them from banks. The company plans to use the proceeds from the deal for new store expansion and working capital.

On Wednesday, the company's stock closed down C$0.05 at C$7.40.

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