Company to complete offering as part of planned qualifying transaction
By Devika Patel
Knoxville, Tenn., Nov. 26 - Taggart Capital Corp. said it will raise C$5.5 million in a private placement of stock conducted in connection with its qualifying transaction. Canaccord Genuity Corp. will conduct the deal on a best-efforts basis. The deal priced Nov. 22.
The company will sell 1,587,302 common shares at C$0.1575 per share and up to 17.5 million common shares at C$0.30 per share. The prices per share are a 25% discount and 42.86% premium to the Nov. 21 closing share price of C$0.21.
Proceeds will mainly serve to satisfy the cash component of the purchase price of a recently constructed 10,574 square-foot two-story commercial retail property located at 135 Main Street in Moncton, N.B., which is being purchased through the qualifying transaction.
Taggart is a capital pool company based in Toronto.
| Issuer: | Taggart Capital Corp.
|
| Issue: | Common stock
|
| Amount: | C$5.5 million
|
| Shares: | 19,087,302
|
| Price: | C$0.1575 (for 1,587,302 shares), C$0.30 (for 17.5 million shares)
|
| Warrants: | No
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | Nov. 22
|
| Stock symbol: | TSX Venture: TAG.P
|
| Stock price: | C$0.21 at close Nov. 21
|
| Market capitalization: | C$1.23 million
|
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