Published on 7/14/2015 in the Prospect News PIPE Daily.
Arsenal greenshoe lifts common, flow-through shares to C$4.62 million
Over-allotment option adds C$602,489; brings total shares to 1,364,160
By Tali Rackner
Norfolk, Va., July 14 – Arsenal Energy Inc. said the underwriters of its recent offering of common stock partially exercised the C$602,489 over-allotment option, raising the total size to C$4,619,239.
With the additional 143,460 common shares and 40,700 flow-through shares, the company has now sold a total of 1,364,160 shares.
The greenshoe had been for up to C$602,500.
On June 19, the company priced 635,000 common shares at C$3.15 apiece, which is identical to the June 18 closing share price. It also priced 545,000 flow-through common shares at C$3.70 apiece, a 17.46% premium to the June 18 closing share price.
As previously reported, the deal was conducted on a bought-deal basis by a syndicate of underwriters led by PI Financial Corp. and including Versa Acumen Capital Finance Partners Ltd., National Bank Financial Inc., Industrial Alliance Securities Inc. and Paradigm Capital Inc.
Proceeds will be used for exploration.
Arsenal is an oil and gas company based in Calgary, Alta.
| Issuer: | Arsenal Energy Inc.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$4,619,239, including C$602,489 greenshoe
|
| Units: | 1,364,160, including 184,160 greenshoe
|
| Warrants: | No
|
| Underwriters: | PI Financial Corp. (lead), Acumen Capital Finance Partners Ltd., National Bank Financial Inc., Industrial Alliance Securities Inc. and Paradigm Capital Inc.
|
| Pricing date: | June 19
|
| Settlement date: | July 14
|
| Stock symbol: | Toronto: AEI
|
| Stock price: | C$3.15 at close June 18
|
| Market capitalization: | C$42.62 million
|
|
|
| Common stock
|
| Amount: | C$2,452,149, including C$451,899 greenshoe
|
| Shares: | 778,460, including 143,460 greenshoe
|
| Price: | C$3.15
|
|
|
| Flow-through stock
|
| Amount: | C$2,167,090, including C$150,590 greenshoe
|
| Shares: | 585,700, including 40,700 greenshoe
|
| Price: | C$3.70
|
|
|
|
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