Offering was conducted on a brokered and non-brokered basis
By Devika Patel
Knoxville, Tenn., July 6 – Founders Advantage Capital Corp. said it settled its C$33.29 million private placement of stock. The brokered and non-brokered deal priced with a C$3 million greenshoe on the brokered portion on June 21 and was increased to C$30 million from C$28 million on June 22.
The company sold 8,322,335 common shares at C$4.00 apiece.
Of the proceeds, C$20.11 million was raised on a bought-deal basis by a syndicate of underwriters co-led by Clarus Securities Inc. and TD Securities Inc. In addition, C$13.18 million was raised on a non-brokered basis.
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 company paid 6% cash commissions to PI Financial Corp., Mackie Research Capital Corp., Canaccord Genuity Corp. and BMO Nesbitt Burns Inc.
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$33,289,340
|
| Shares: | 8,322,335
|
| Price: | C$4.00
|
| Warrants: | No
|
| Underwriters: | Clarus Securities Inc. and TD Securities Inc. (co-leads, for C$20.11 million), non-brokered (for C$13,179,340)
|
| 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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