Offering is being conducted on a brokered and non-brokered basis
By Devika Patel
Knoxville, Tenn., June 22 – Founders Advantage Capital Corp. said it increased its private placement of stock to C$30 million from C$28 million. The brokered and non-brokered deal priced with a C$3 million greenshoe on the brokered portion on Tuesday.
The company will sell 7.5 million common shares at C$4.00 apiece.
Of the proceeds, C$20 million will be raised on a bought-deal basis by a syndicate of underwriters co-led by Clarus Securities Inc. and TD Securities Inc. In addition, C$10 million will be raised on a non-brokered basis.
Settlement is expected July 6.
Proceeds will be used to further the company’s business plan to acquire interests in private businesses and for working capital requirements and general corporate purposes.
The Calgary, Alta., company makes investments in equity, debt or other securities of publicly traded companies or private businesses.
| Issuer: | Founders Advantage Capital Corp.
|
| Issue: | Common shares
|
| Amount: | C$30 million
|
| Greenshoe: | C$3 million, or 750,000 shares
|
| Shares: | 7.5 million
|
| Price: | C$4.00
|
| Warrants: | No
|
| Underwriters: | Clarus Securities Inc. and TD Securities Inc. (co-leads, for C$20 million), non-brokered (for C$10 million)
|
| Pricing date: | June 21
|
| Settlement date: | July 6
|
| Stock symbol: | TSX Venture: FCF
|
| Stock price: | C$0.32 at close June 20
|
| Market capitalization: | C$3.19 million
|
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