By Devika Patel
Knoxville, Tenn., April 3 - Alter Nrg Corp. announced it has settled a C$46 million private placement of units. The deal priced for C$40 million on March 12, with a C$6 million greenshoe, which was fully exercised.
The company sold 10,454,545 common shares at C$4.40 apiece. Of those shares, 1,363,636 were part of the greenshoe.
The deal was conducted by a syndicate of underwriters led by Raymond James Ltd. and including Wellington West Capital Markets Inc., Canaccord Adams, Paradigm Capital Inc., Blackmont Capital Inc. and Genuity Capital Markets.
Proceeds will be used to fund ongoing project development and for working capital.
Alter Nrg, a Calgary, Alta.-based development-stage company, is pursuing alternative energy services to meet the demand for environmentally responsible energy in world markets.
| Issuer: | Alter Nrg Corp.
|
| Issue: | Common shares
|
| Amount: | C$46 million (including C$6 million greenshoe)
|
| Shares: | 9,090,909 (plus 1,363,636 greenshoe)
|
| Price: | C$4.40
|
| Warrants: | No
|
| Underwriters: | Raymond James Ltd. (lead), Wellington West Capital Markets Inc., Canaccord Adams, Paradigm Capital Inc., Blackmont Capital Inc., Genuity Capital Markets
|
| Pricing date: | March 12
|
| Settlement date: | April 3
|
| Stock symbol: | TSX Venture: NRG
|
| Stock price: | C$4.59 at close March 12
|
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