Offer conducted via lead agent Raymond James with C$838,500 greenshoe
By Devika Patel
Knoxville, Tenn., Jan. 26 - Omni-Lite Industries Canada Inc. said it will conduct a private placement on a bought-deal basis via a syndicate of underwriters led by Raymond James Ltd. There is a C$838,500 greenshoe for the C$5.59 million deal.
The company will sell 2.6 million units of one common share and one half-share warrant at C$2.15 per unit. Each whole two-year warrant will be exercisable at C$2.70. The strike price reflects a 23.85% premium to the Jan. 25 closing share price of C$2.18.
Settlement is expected Feb. 16.
Proceeds will be used to fund the company's pipeline of near-term program opportunities, particularly in the military and automotive divisions, as well as for general corporate purposes.
Omni-Lite, based in Cerritos, Calif., is a technology company that develops and manufactures components used by several U.S.-based retail manufacturers.
| Issuer: | Omni-Lite Industries Canada Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5.59 million
|
| Greenshoe: | C$838,500
|
| Units: | 2.6 million
|
| Price: | C$2.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.70
|
| Agent: | Raymond James Ltd. (lead)
|
| Pricing date: | Jan. 26
|
| Settlement date: | Feb. 16
|
| Stock symbol: | TSX Venture: OML
|
| Stock price: | C$2.31 at close Jan. 26
|
| Market capitalization: | C$23.64 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.
