New Issue: Canada's LAB spinoff IPO of 10 million shares priced at C$4 each

By Ronda Fears

Memphis, Aug. 3 - LAB Research, Inc. announced Thursday that its initial public offering - a spinoff from parent Laval, Quebec-based LAB International - of 10 million shares was priced at C$4 via joint bookrunners Desjardins Securities Inc. and Orion Securities Inc.

Of the 10 million shares issued, LAB International sold 6.25 million and received C$25 million in proceeds. LAB Research raised C$15 million with the sale of the remaining 3.75 million shares, the proceeds of which are said to support the expansion of its three main sites over the next 12 months with the balance to be used for working capital and to support the growth of its activities. The company has five facilities in all, located in Canada, the United States, Denmark and Hungary.

Issuer:	LAB Research, Inc.
Issue:	Initial public offering
Amount:	C$40 million
Shares:	10 million
Greenshoe:	1.5 million shares
Price:	C$4.00 per share
Bookrunners:	Desjardins Securities Inc. and Orion Securities Inc.
Co-managers:	Versant Partners Inc., Westwind Partners Inc., Jennings Capital Inc., Paradigm Capital Inc. and Oppenheimer & Co., Inc.
Pricing date:	Aug. 2
Stock symbol:	Toronto: LRI

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