Offering finances company's acquisitions or general corporate purposes
By Devika Patel
Knoxville, Tenn., May 17 - Mood Media Corp. said it completed a C$27.97 million private placement of stock. The deal priced for C$27.5 million with a C$10 million greenshoe on April 26 and was conducted by a syndicate of underwriters co-led by Cormark Securities Inc. and Octagon Capital Corp. and including Byron Capital Markets.
The company sold 6,789,000 common shares at C$4.12 per share on a bought-deal basis. The price per share is a 3% premium to the March 16 closing share price of C$4.00.
Of the shares, 114,000 were part of the partially exercised greenshoe.
Proceeds will be used for acquisitions or general corporate purposes.
Mood Media is a Toronto-based in-store media specialist.
| Issuer: | Mood Media Corp.
|
| Issue: | Common shares
|
| Amount: | C$27,970,680 (including C$469,680 greenshoe)
|
| Shares: | 6,789,000
|
| Price: | C$4.12
|
| Warrants: | No
|
| Underwriters: | Cormark Securities Inc. and Octagon Capital Corp. (co-leads), Byron Capital Markets
|
| Pricing date: | April 26
|
| Settlement date: | May 17
|
| Stock symbol: | Toronto: MM
|
| Stock price: | C$4.00 at close April 25
|
| Market capitalization: | C$484.18 million
|
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