Deal settles with investor IFC; funds develop Itafos-Arraias project
By Devika Patel
Knoxville, Tenn., Sept. 29 - MBAC Fertilizer Corp. said it has settled a C$33.57 million private placement of stock. The deal priced Sept. 22.
The company sold 10,829,900 common shares at C$3.10 apiece to IFC. The price per share is an 8.01% discount to the Sept. 21 closing share price of C$2.87.
Proceeds will be used for the development of the Itafos-Arraias SSP project.
The producer of phosphate and potash fertilizers is based in Toronto.
| Issuer: | MBAC Fertilizer Corp.
|
| Issue: | Common shares
|
| Amount: | C$33,572,690
|
| Shares: | 10,829,900
|
| Price: | C$3.10
|
| Warrants: | No
|
| Investor: | IFC
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 29
|
| Stock symbol: | Toronto: MBC
|
| Stock price: | C$2.90 at close Sept. 22
|
| Market capitalization: | C$241.85 million
|
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