Company also negotiates acquisition of DMX Holdings for $86.1 million
By Devika Patel
Knoxville, Tenn., March 19 - Mood Media Corp. said it plans a private placement of stock in Canada and the United Kingdom to raise C$114.48 million or £73.46 million.
The company will sell 31.8 million common shares at C$3.60 per share in Canada and 231p in the U.K. The price per share is a 9.09% premium to the Canadian March 16 closing share price of C$3.30 and an 8.2% premium to the London closing share price of 213.5p on March 16.
Proceeds will be used for general corporate purposes.
The company also said it plans to acquire DMX Holdings, Inc. for $86.1 million in cash, including net debt repaid on closing. The equity value of the transaction will be roughly $53.8 million.
Mood Media is a Toronto-based in-store media specialist.
| Issuer: | Mood Media Corp.
|
| Issue: | Common shares
|
| Amount: | C$114.48 million or £73,458,000
|
| Shares: | 31.8 million
|
| Price: | C$3.60, 231p
|
| Warrants: | No
|
| Pricing date: | March 19
|
| Stock symbol: | Toronto, London: MM
|
| Stock price: | C$3.30, 213.5p at close March 16
|
| Market capitalization: | C$460.24 million, £203.32 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
