By Laura Lutz
Des Moines, March 13 - Aero Mechanical Services Ltd. closed its private placement of units for C$4.5 million, including C$1.5 million from a greenshoe.
The company sold 4.5 million units at C$1.00 each on a bought-deal basis. The units consist of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.30 for two years.
Research Capital Corp., the underwriter, was paid an 8% cash commission, along with 7% in broker warrants.
The deal priced on Feb. 28 as a C$3 million offering with a C$1 million greenshoe. The greenshoe was increased to C$1.5 million of March 6.
Proceeds will be used for working capital and general corporate purposes.
Aero Mechanical, based in Calgary, Alta., provides technologies and services to airlines, manufacturers and maintenance organizations.
| Issuer: | Aero Mechanical Services Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4.5 million (Greenshoe for C$1.5 million)
|
| Units: | 4.5 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.30
|
| Underwriter: | Research Capital Corp.
|
| Pricing date: | Feb. 28
|
| Amended: | March 6
|
| Settlement date: | March 13
|
| Stock symbol: | TSX Venture: AMA
|
| Stock price: | C$1.13 at close Feb. 27
|
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