Deal sells treasury units comprised of common stock, two-year warrants
By Devika Patel
Knoxville, Tenn., May 15 – The underwriters for Nobilis Health Corp.’s private placement of units opted to exercise the deal’s 15% greenshoe, lifting total proceeds of the offering to C$70.63 million, on May 13, according to an 8-K filed Friday with the Securities and Exchange Commission.
The total amount includes proceeds raised in a secondary sale of units comprised of stock held by Donald L. Kramer or Harry Fleming. The deal priced on April 21 and was increased to C$65.88 million with a 15% greenshoe from C$40 million with a 15% greenshoe on the same day.
The company, Kramer and Fleming sold 7,847,668 units of one treasury unit and a half common share at C$9.00 per unit. Of the units, 527,668 were part of the C$4.75 million greenshoe.
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 until May 13, 2017. The strike price is a 14.43% premium to the April 20 closing share price of C$10.05.
The offering was conducted on a bought-deal basis by a syndicate of underwriters co-led by Mackie Research Capital Corp. and PI Financial Corp.
The company raised C$36,267,012 from the sale of 7,847,668 units, and the stockholders raised C$34,362,000 from the sale of 3,818,000 shares.
The Houston company offers ambulatory and acute care healthcare services.
| Issuer: | Nobilis Health Corp.
|
| 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
|
| Amount: | C$70,629,012, including C$4,749,012 greenshoe
|
| Units: | 7,847,668
|
| Price: | C$9.00
|
| Warrants: | One half-share warrant per treasury unit
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| Warrant expiration: | May 13, 2017
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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
|
| Settlement date: | May 13
|
| Stock symbol: | Toronto: NHC
|
| Stock price: | C$10.05 at close April 20
|
| Market capitalization: | C$561.89 million
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