Offering proceeds used for debt reduction, general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 6 - Mediagrif Interactive Technologies Inc. said it settled a C$35 million private placement of stock. The deal priced for C$29.75 million with a C$5 million greenshoe on Nov. 22. On Nov. 26, the company announced that the greenshoe had been fully exercised.
The company sold 2 million common shares at C$17.50 per share. Of the shares, 286,000 were part of the greenshoe. The price per share is a 0.58% premium to C$17.40, the Nov. 21 closing share price.
The deal was conducted on a bought-deal basis by a syndicate of underwriters led by National Bank Financial Inc.
Proceeds will be used to reduce debt and for general corporate purposes.
Mediagrif is a Longueuil, Quebec, developer, owner and operator of e-business networks.
| Issuer: | Mediagrif Interactive Technologies Inc.
|
| Issue: | Common stock
|
| Amount: | C$35 million (including C$5,005,000 greenshoe exercise)
|
| Shares: | 2 million
|
| Price: | C$17.50
|
| Warrants: | No
|
| Underwriter: | National Bank Financial Inc. (lead)
|
| Pricing date: | Nov. 22
|
| Settlement date: | Dec. 6
|
| Stock symbol: | Toronto: MDF
|
| Stock price: | C$17.40 at close Nov. 21
|
| Market capitalization: | C$250.86 million
|
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