By Laura Lutz
Washington, Feb. 21 - Geodynamics Ltd. arranged a A$12 million private placement of shares with attaching options.
The company sold 12 million shares at A$1.00 each. Investors also received one option for each share. The options are exercisable at A$1.00 each until Aug. 31, 2007.
The share price is an 8% discount to the 20-day weighted average price of the company's shares.
The offering will be settled in two tranches. The first, for 7.8 million shares, is expected to settle on Feb. 22. The second tranche will be settled following shareholder approval.
Following the placement, the company will have 123.4 million issued shares.
Proceeds will be used to acquire a new drilling rig.
Geodynamics is a geothermal energy company based in Queensland, Australia.
| Issuer: | Geodynamics Ltd.
|
| Issue: | Shares with attaching options
|
| Amount: | A$12 million
|
| Shares: | 12 million
|
| Price: | A$1.00
|
| Options: | One per share
|
| Option expiration: | Aug. 31, 2007
|
| Option strike price: | A$1.00
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 22 (for A$7.8 million)
|
| Stock symbol: | Australia: GDY
|
| Stock price: | A$1.24 at close Feb. 21
|
© 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.
