Deal’s proceeds finance general working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 12 – TIO Networks Corp. said it will conduct a C$5 million private placement of stock with a 15% million greenshoe.
The company will sell 2,659,575 common shares at C$1.88 per share on a bought-deal basis. The price per share is a 5.05% discount to the Jan. 11 closing share price of C$1.98.
PI Financial Corp. is the underwriter.
Settlement is expected Jan. 28.
Proceeds will be used for general working capital and corporate purposes.
Based in Burnaby, B.C., TIO develops a network of financial services kiosks for non-bank marketplaces.
| Issuer: | TIO Networks Corp.
|
| Issue: | Common stock
|
| Amount: | C$5 million
|
| Greenshoe: | 15%
|
| Shares: | 2,659,575
|
| Price: | C$1.88
|
| Warrants: | No
|
| Underwriter: | PI Financial Corp.
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 28
|
| Stock symbol: | TSX Venture: TNC
|
| Stock price: | C$1.98 at close Jan. 11
|
| Market capitalization: | C$109.62 million
|
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