Deal conducted by lead agent M Partners along with Beacon Securities
By Devika Patel
Knoxville, Tenn., April 25 - Enterprise Group, Inc. said it plans a C$6 million private placement of stock through a syndicate of agents led by M Partners Inc. and including Beacon Securities Inc.
The company will sell 12.5 million common shares on a best-efforts basis. The shares will be sold at C$0.48 apiece, a 7.69% discount to C$0.52, the April 24 closing share price.
Settlement is expected May 7.
Proceeds will be used for capital expenditures related to Artic Therm International Ltd., for acquisition and integration costs and for general working capital purposes.
The construction services company is based in St. Albert, Alta.
| Issuer: | Enterprise Group, Inc.
|
| Issue: | Common shares
|
| Amount: | C$6 million
|
| Shares: | 12.5 million
|
| Price: | C$0.48
|
| Warrants: | No
|
| Agent: | M Partners Inc. (lead), Beacon Securities Inc.
|
| Pricing date: | April 25
|
| Settlement date: | May 7
|
| Stock symbol: | Toronto: E
|
| Stock price: | C$0.52 at close April 24
|
| Market capitalization: | C$31.09 million
|
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