By Devika Patel
Knoxville, Tenn., July 10 - Maxim Power Corp. said it raised C$66.37 million in a private placement of stock. The deal priced for C$65 million with a C$6.5 million greenshoe on June 19.
The company sold 10,211,500 common shares at C$6.50 apiece. Of the shares, 211,500 were part of the partially exercised greenshoe.
The deal was conducted by a syndicate of underwriters led by Cormark Securities Inc. and including BMO Capital Markets and First Energy Capital Corp.
Proceeds will be used to finance the acquisition of the 170 megawatt Pittsfield Generating Station, development costs related to the 190 megawatt Deerland Peaking Station and for general corporate purposes.
Based in Calgary, Alta., Maxim develops and operates power-production facilities.
| Issuer: | Maxim Power Corp.
|
| Issue: | Common stock
|
| Amount: | C$66,374,750 (includes C$1,374,750 greenshoe)
|
| Shares: | 10,211,500
|
| Price: | C$6.50
|
| Warrants: | No
|
| Underwriters: | Cormark Securities Inc. (lead), BMO Capital Markets, First Energy Capital Corp.
|
| Pricing date: | June 19
|
| Settlement date: | July 10
|
| Stock symbol: | Toronto: MXG
|
| Stock price: | C$7.05 at close June 18
|
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