By Jennifer Chiou
New York, Dec. 5 - Maple Leaf Foods Inc. said it completed a C$70 million private placement of units.
The company sold 7,368,421 units at C $9.50 per unit.
Each unit will consist of one subscription receipt for Maple Leaf Foods common shares and 0.4 common share purchase warrants.
Each subscription receipt will entitle the holder to receive one common share on Aug. 4 or, at the election of the company, the return in cash of all the unit proceeds, being C $9.50 per unit.
Each whole common share purchase warrant is exercisable into one common share until Dec. 16, 2010 at a price of C $9.50.
Proceeds will be used for general corporate purposes.
Settlement is slated for Dec. 16.
Maple Leaf Foods is a Toronto-based food processing company.
| Issuer: | Maple Leaf Foods Inc.
|
| Issue: | Units of one common share and 0.4 common share purchase warrant
|
| Amount: | C$70 million
|
| Units: | 7,368,421
|
| Price: | C$9.50
|
| Warrants: | 0.4 common share warrant per unit
|
| Warrant strike price: | C$9.50
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 16
|
| Stock symbol: | TSE: MFI
|
| Stock price: | C$10.11 at close Dec. 5
|
| Market capitalization: | C$1.5 billion
|
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