By Devika Patel
Knoxville, Tenn., Dec. 5 - OPEL International Inc. announced it has priced a previously announced C$25 million private placement of units.
The company will sell up to 16,666,667 units at C$1.50 each. The units consist of one common share and one half-share warrant with each whole warrant exercisable at C$1.90 for two years.
The offering will be conducted by a syndicate of agents led by Raymond James Ltd. and including Clarus Securities Inc., Canaccord Adams Inc. and IBK Capital Corp. The deal is expected to settle on Dec. 13.
Based in Toronto, OPEL is a developer and supplier of concentrating photovoltaic panels.
| Issuer: | OPEL International Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$25 million
|
| Units: | 16,666,667
|
| Price: | C$1.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.90
|
| Agents: | Raymond James Ltd. (lead), Clarus Securities Inc., Canaccord Adams Inc., IBK Capital Corp.
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 13
|
| Stock symbol: | TSX Venture: OPL
|
| Stock price: | C$1.58 at close Dec. 4
|
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