Company sells receipts at C$1.00, plans to expand oil and gas programs
By Devika Patel
Knoxville, Tenn., May 31 - Rodeo Capital II Corp. said it priced a C$30 million private placement of subscription receipts. The deal was announced on May 25.
The company will sell 30 million receipts at C$1.00 apiece on a best-efforts basis. The price per receipt is a 185.71% premium to the May 30 closing share price. C$0.35.
Each receipt converts for free to a common share.
AltaCorp. Capital Inc. will be the lead agent of a syndicate of agents which includes Raymond James Ltd., Haywood Securities Inc. and TD Securities Inc.
Settlement is expected July 12.
Proceeds will be used to expand oil and gas programs and for general corporate purposes.
The capital pool company is based in Calgary, Alta.
| Issuer: | Rodeo Capital II Corp.
|
| Issue: | Subscription receipts
|
| Amount: | C$30 million
|
| Receipts: | 30 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Agents: | AltaCorp. Capital Inc. (lead), Raymond James Ltd., Haywood Securities Inc. and TD Securities Inc.
|
| Announcement date: | May 25
|
| Pricing date: | May 31
|
| Settlement date: | July 12
|
| Stock symbol: | TSX Venture: RZ
|
| Stock price: | C$0.35 at close May 30
|
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