Acumen to lead bought deal offering; proceeds for working capital
New York, Sept. 4 – Sylogist Ltd. said it is offering C$27.5 million of common shares in a bought deal sale via Acumen Capital Finance Partners Ltd.
The company will sell 2.5 million shares at C$11.00 each, according to a press release.
The company launched the offering on Thursday at C$20.02 million, or 1.82 million shares, and increased the size later that day.
The price is a 5.7% discount to the closing price of C$11.67 on Sept. 4.
Proceeds will be used to increase working capital to allow for business expansion through organic growth initiatives and strategic acquisitions.
Sylogist is a Calgary, Alta.-based provider of enterprise systems and supply chain intellectual property solutions.
| Issuer: | Sylogist Ltd.
|
| Issue: | Common shares
|
| Amount: | C$27.5 million
|
| Shares: | 2.5 million
|
| Price: | C$11.00
|
| Warrants: | No
|
| Agent: | Acumen Capital Finance Partners Ltd.
|
| Pricing date: | Sept. 4, after close
|
| Settlement date: | Sept. 24
|
| Stock symbol: | TSX Venture: SYZ
|
| Stock price: | C$11.67 at close on Sept. 4
|
| Market capitalization: | C$237.82 million
|
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