By Devika Patel
Knoxville, Tenn., Aug. 14 - McPherson's Ltd. said it will raise A$12 million in a private placement of shares.
The company will sell 5,714,285 ordinary shares at A$2.10 apiece via Linwar Securities Pty Ltd.
Settlement is expected Aug. 19.
Proceeds will be used to reduce debt and substantially strengthen the company's balance sheet.
The Mulgrave, Australia, company is a importer, exporter and marketer of kitchen knives, scissors, cutlery, kitchen utensils, glassware, hair, beauty and personal care products, plastic bags, wraps, foils and other consumer products.
| Issuer: | McPherson's Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$12 million
|
| Shares: | 5,714,285
|
| Price: | A$2.10
|
| Warrants: | No
|
| Agent: | Linwar Securities Pty Ltd.
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 19
|
| Stock symbol: | Australia: MCP
|
| Stock price: | A$2.41 at close Aug. 14
|
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