By Sheri Kasprzak
Atlanta, June 29 - Mega Bloks Inc. said it plans to raise C$68,975,000 in a private placement.
The offering includes 3.1 million subscription receipts at C$22.25 each.
The subscription receipts are exchangeable automatically on a one-for-one basis for common shares once Mega Blok's acquisitions of Rose Art Industries, Inc. and Warren Industries, Inc. are completed.
The proceeds will be used for the acquisitions.
The private placement is expected to close July 11.
A syndicate of placement agents led by BMO Nesbitt Burns Inc. and Scotia Capital Inc., and including National Bank Financial Inc. and Canaccord Capital Corp. will place the offering.
Mega Bloks, based in Montreal, makes educational construction toys.
| Issuer: | Mega Bloks Inc.
|
| Issue: | Subscription receipts exchangeable for common shares
|
| Amount: | C$68,975,000
|
| Receipts: | 3.1 million
|
| Price: | C$22.25
|
| Warrants: | No
|
| Placement agents: | BMO Nesbitt Burns Inc. (lead); Scotia Capital Inc. (lead); National Bank Financial Inc.; Canaccord Capital Corp.
|
| Pricing date: | June 29
|
| Settlement date: | July 11
|
| Stock price: | C$22 at close June 28
|
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