Sale of 30,000 units expected to finance general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 7 - Amaya Gaming Group Inc. said the syndicate of underwriters led by Canaccord Genuity Corp. has elected to exercise a C$10 million greenshoe in full for a private placement of units. The deal settled for C$30 million.
The company sold 30,000 units, each one consisting of $1,000 principal amount of unsecured nonconvertible subordinated debentures and 48 warrants, at C$1,000 per unit. Of the units, 10,000 were part of the fully exercised greenshoe.
The debentures bear interest at 7.5% and mature Jan. 31, 2016.
Each warrant is exercisable until Jan. 31, 2016 at C$6.25 per share, which reflects a 29.13% premium to the closing share price of C$4.84 on Jan. 16.
Proceeds will be used for general corporate purposes.
Based in Montreal, Amaya makes and sells technology-based gaming products for the regulated gaming industry worldwide.
| Issuer: | Amaya Gaming Group Inc.
|
| Issue: | Units of C$1,000 of unsecured nonconvertible subordinated debentures and 48 warrants
|
| Amount: | C$30 million (including C$10 million greenshoe)
|
| Units: | 30,000
|
| Price: | C$1,000
|
| Maturity: | Jan. 31, 2016
|
| Coupon: | 7.5%
|
| Warrants: | 48 warrants per unit
|
| Warrant expiration: | Jan. 31, 2016
|
| Warrant strike price: | C$6.25
|
| Underwriters: | Canaccord Genuity Corp. (lead), Macquarie Capital Markets Canada Ltd. (co-lead), Cormark Securities Inc., BMO Nesbitt Burns Inc. and Mackie Research Capital Corp.
|
| Pricing date: | Jan. 17
|
| Settlement date: | Feb. 7
|
| Stock symbol: | TSX Venture: AYA
|
| Stock price: | C$4.84 at close Jan. 16
|
| Market capitalization: | C$376.75 million
|
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