Offering is slated to fund acquisitions and general corporate purposes
By Devika Patel
Knoxville, Tenn., May 7 - Temple Hotels Inc. said it plans a C$7.82 million non-brokered private placement of stock.
The company will sell 1,448,495 common shares at C$5.40 per. The price per share reflects a 6.9% discount to C$5.80, the May 6 closing share price.
Settlement is expected Wednesday.
Proceeds will be used for acquisitions and for general corporate purposes.
Temple is a real estate investment company based in Winnipeg, Man.
| Issuer: | Temple Hotels Inc.
|
| Issue: | Common stock
|
| Amount: | C$7,821,873
|
| Shares: | 1,448,495
|
| Price: | C$5.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 7
|
| Settlement date: | May 8
|
| Stock symbol: | Toronto: TPH
|
| Stock price: | C$5.80 at close May 6
|
| Market capitalization: | C$150.76 million
|
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