By Sheri Kasprzak
New York, Feb. 22 - Migao Corp. wrapped a private placement for C$25,003,750.
The company sold 6.025 million units at C$4.15 each, including a greenshoe for 1.205 million additional units exercised by a syndicate of underwriters led by Research Capital Corp. and CIBC World Markets Inc.
The units include one share and one half-share warrant. Each whole warrant is exercisable at C$5.30 for two years.
The syndicate also included Clarus Securities Inc., Jennings Capital Inc. and Canaccord Adams Inc.
Toronto-based Migao is a potash fertilizer producer.
| Issuer: | Migao Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$25,003,750
|
| Units: | 6.025 million
|
| Greenshoe: | For 1.205 million units
|
| Price: | C$4.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$5.30
|
| Underwriters: | Research Capital Inc. (lead), CIBC World Markets Inc. (lead), Clarus Securities Inc., Jennings Capital Inc., Canaccord Adams Inc.
|
| Settlement date: | Feb. 22
|
| Stock symbol: | TSX Venture: MGO
|
| Stock price: | C$5.36 at close Feb. 22
|
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