Deal sells treasury units comprised of common stock, two-year warrants
By Devika Patel
Knoxville, Tenn., April 21 – Nobilis Health Corp. said it increased a private placement of units to C$65.88 million with a 15% greenshoe from C$40 million with a 15% greenshoe. The total proceeds includes C$5 million, which will be raised in a secondary sale of units comprised of stock held by Donald L. Kramer or Harry Fleming. The deal priced on Tuesday and was increased a few hours later.
The company, Kramer and Fleming will sell 7.32 million units of one treasury unit and a half common share at C$9.00 per unit.
Each treasury unit consists of one half of a common share and a half-share warrant. Each whole warrant is exercisable at C$11.50 for two years. The strike price is a 14.43% premium to the April 20 closing share price of C$10.05.
The offering is being conducted on a bought-deal basis by a syndicate of underwriters co-led by Mackie Research Capital Corp. and PI Financial Corp.
The Houston company offers ambulatory and acute care healthcare services.
| Issuer: | Nobilis Health Corp.
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| Issue: | Units of one of one treasury unit and a half common share, with each treasury unit comprised of one half of a common share and a half-share warrant
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| Amount: | C$65.88 million
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| Greenshoe: | 15%
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| Units: | 7.32 million
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| Price: | C$9.00
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| Warrants: | One half-share warrant per treasury unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$11.50
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| Underwriters: | Mackie Research Capital Corp. and PI Financial Corp. (co-leads)
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| Pricing date: | April 21
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| Upsized: | April 21
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| Stock symbol: | Toronto: NHC
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| Stock price: | C$10.05 at close April 20
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| Market capitalization: | C$568.01 million
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