By Devika Patel
Knoxville, Tenn., Jan. 14 - ATS Automation Tooling Systems Inc. said it settled a C$50 million private placement of stock.
The company sold 10 million common shares at C$5.00 per share on a bought-deal basis.
The deal was conducted by a syndicate of underwriters led by GMP Securities LP and including Cormark Securities Inc., Paradigm Capital Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
Proceeds will be used to pursue strategic opportunities and for working capital and general corporate purposes.
Based in Cambridge, Ont., ATS provides custom designed, built and installed manufacturing solutions to customers in industries such as health care, electronics, automotive and consumer products.
| Issuer: | ATS Automation Tooling Systems Inc.
|
| Issue: | Common shares
|
| Amount: | C$50 million
|
| Shares: | 10 million
|
| Price: | C$5.00
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP (lead), Cormark Securities Inc., Paradigm Capital Inc., RBC Dominion Securities Inc. and Scotia Capital Inc
|
| Settlement date: | Jan. 14
|
| Stock symbol: | Toronto: ATA
|
| Stock price: | C$4.43 at close Jan. 13
|
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