Offering funds working capital; units will include half-share warrants
By Devika Patel
Knoxville, Tenn., Nov. 25 - iFabric Corp. said it has arranged a C$4 million private placement of units with a C$8 million greenshoe. It also plans a C$4 million secondary offering of units on the same terms.
In the placement, the company will sell 1 million units of one common share and a half-share warrant at C$4.00 per unit.
Each whole warrant is exercisable at C$5.25 for three years. The strike price reflects a 3.35% premium to the Nov. 22 closing share price of C$5.08.
Settlement is expected Dec. 10.
The offering will be conducted through a syndicate of agents led by MGI Securities Inc. and including Industrial Alliance Securities.
Proceeds will be used for general working capital purposes.
The manufacturer, distributor, licensor and licensee of ladies intimate apparel products is based in Markham, Ont.
| Issuer: | iFabric Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4 million
|
| Greenshoe: | C$8 million
|
| Units: | 1 million
|
| Price: | C$4.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$5.25
|
| Bookrunners: | MGI Securities Inc. (lead), Industrial Alliance Securities
|
| Pricing date: | Nov. 25
|
| Settlement date: | Dec. 10
|
| Stock symbol: | TSX Venture: IFA
|
| Stock price: | C$5.08 at close Nov. 22
|
| Market capitalization: | C$117.52 million
|
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