Company sells common stock at 9.68% discount to closing share price
By Devika Patel
Knoxville, Tenn., Feb. 22 - Conforce International, Inc. said it completed a private placement of stock. The deal raised $6.2 million and priced Dec. 9.
The company sold common shares at $0.28 apiece. The per-share price reflects a 9.68% discount to the closing share price of $0.31 on Dec. 8.
The offering was led by NDB Group Syndications Inc.
Adaly Investment Management Corp. generated the lead order among the institutional and retail investors.
The subscription proceeds will be used to acquire custom-designed production lines for deployment in the Conforce USA manufacturing facility located in Peru, Ind.
Conforce is a Concord, Ont., company that repairs, sells and stores shipping containers.
| Issuer: | Conforce International, Inc.
|
| Issue: | Common stock
|
| Amount: | $6.2 million
|
| Price: | $0.28
|
| Warrants: | No
|
| Agent: | NDB Group Syndications Inc. (lead)
|
| Investor: | Adaly Investment Management Corp. (lead)
|
| Pricing date: | Dec. 9
|
| Settlement date: | Feb. 22
|
| Stock symbol: | OTCBB: CFRI
|
| Stock price: | $0.31 at close Dec. 8
|
| Market capitalization: | $60 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
