Underwritten bought-deal offering also will have 15% greenshoe option
By Devika Patel
Knoxville, Tenn., Dec. 13 - Ridgeline Energy Services Inc. said it plans a C$4.4 million private placement of stock with a 15% greenshoe. The deal will be conducted by a syndicate of underwriters led by Mackie Research Capital Corp. and including National Bank Financial Inc.
The company will sell 7,333,400 common shares at C$0.60 per share on a bought-deal basis. The price per share reflects a 22.08% discount to C$0.77, the Dec. 12 closing share price.
Proceeds will be used for commercialization, development and working capital.
Calgary, Alta.-based Ridgeline provides environmental services to the Western Canadian energy industry.
| Issuer: | Ridgeline Energy Services Inc.
|
| Issue: | Common stock
|
| Amount: | C$4.4 million
|
| Greenshoe: | 15%
|
| Shares: | 7,333,400
|
| Price: | C$0.60
|
| Warrants: | No
|
| Underwriters: | Mackie Research Capital Corp. (lead), National Bank Financial Inc.
|
| Pricing date: | Dec. 13
|
| Stock symbol: | TSX Venture: RLE
|
| Stock price: | C$0.77 at close Dec. 12
|
| Market capitalization: | C$41.24 million
|
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