By Devika Patel
Knoxville, Tenn., March 14 - Waratah Coal Inc. said it is increasing a private placement of units to C$40 million from C$25 million. The deal priced Thursday.
The company now plans to sell 12,698,413 units of one share and one half-share warrant, increased from 7,936,508 units, at C$3.15 per unit. Each whole warrant will be exercisable at C$4.50 for two years.
Jennings Capital Inc., the lead agent, has a greenshoe for C$5 million.
Waratah is a coal mining company with headquarters in Brisbane, Australia.
Issuer: Waratah Coal Inc.
Issue: Units of one share and one half-share warrant
Amount: C$40,000,000.95
Greenshoe: C$5 million
Units: 12,698,413
Price: C$3.15
Warrants: One half-share warrant per unit
Warrant expiration: Two years
Warrant strike price: C$4.50
Agent: Jennings Capital Inc. (lead)
Pricing date: March 13
| Upsized: | March 14
|
| Stock symbol: | TSX Venture: WCI
|
| Stock price: | C$3.10 at close March 13
|
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