By Sheri Kasprzak
New York, Nov. 16 - Builders Energy Services Trust said it has negotiated a private placement of trust units for C$20,002,500.
The company intends to sell 1.27 million trust units at C$15.75 each.
A syndicate of underwriters led by Canaccord Capital Corp. and including CIBC World Markets Inc., J.F. Mackie & Co. Ltd., Westwind Partners Inc., Raymond James Ltd. and Wellington West Capital Markets Inc. have an over-allotment option for up to 318,000 additional trust units.
The deal is slated to close Nov. 30.
Proceeds will be used for capital expenditures, acquisitions and general corporate purposes.
Based in Calgary, Alta., Builders Energy Services is an open-ended investment trust that acquires and operates subsidiaries that provide services to the oilfield sector.
| Issuer: | Builders Energy Services Trust
|
| Issue: | Trust units
|
| Amount: | C$20,002,500
|
| Trust units: | 1.27 million
|
| Greenshoe: | For 318,000 trust units
|
| Price: | C$15.75
|
| Warrants: | No
|
| Underwriters: | Canaccord Capital Corp. (lead); CIBC World Markets Inc.; J.F. Mackie & Co. Ltd.; Westwind Partners Inc.; Raymond James Ltd.; Wellington West Capital Markets Inc.
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 30
|
| Stock price: | C$16.80 at close Nov. 15
|
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