H.C. Wainwright and Canaccord Genuity will assist with sale of equity
By Devika Patel
Knoxville, Tenn., Dec. 9 – Allied Nevada Gold Corp. said it priced a $21.5 million public sale of units with a 10%, $300,000 greenshoe. The deal was announced Monday.
The company will sell 21.5 million units of one common share and one half-share warrant at $1.00 per unit, with each whole warrant exercisable at $1.10 for five years. The strike price is a 20.86% discount to the Dec. 8 closing share price of $1.39.
H.C. Wainwright & Co., LLC is the lead agent, and Canaccord Genuity Corp. is the co-placement agent.
Settlement is expected Dec. 12.
Proceeds will be used for the company’s Phase III clinical trial, other research and development and general and administrative expenses.
The gold and silver producer is based in Reno, Nev.
| Issuer: | Allied Nevada Gold Corp.
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| Issue: | Units of one common share and one warrant
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| Amount: | $21.5 million
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| Units: | 21.5 million
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| Price: | $1.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.10
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| Agents: | H.C. Wainwright & Co., LLC (lead), Canaccord Genuity Corp. (co-placement agent)
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| Announcement date: | Dec. 8
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 12
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| Stock symbol: | NYSE: ANV
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| Stock price: | $1.39 at close Dec. 8
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| Market capitalization: | $95.83 million
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