By Devika Patel
Knoxville, Tenn., Jan. 17 - Aeroquest International Ltd. arranged a C$20 million private placement of common shares.
The company will sell 6,666,667 common shares at C$3.00 apiece on a bought-deal basis.
Jennings Capital Inc. will lead a syndicate of underwriters, which includes J.F. Mackie and Co. Ltd. and National Bank Financial for this deal. The underwriters have a greenshoe for an additional 1 million shares, or C$3 million.
Settlement is expected on Feb. 5.
Proceeds will be used to repay notes, for general working capital and to fund continued growth.
Based in Misissauga, Ont., Aeroquest focuses on airborne geophysical surveying platforms.
| Issuer: | Aeroquest International Ltd.
|
| Issue: | Common shares
|
| Amount: | C$20 million
|
| Greenshoe: | C$3 million
|
| Shares: | 6,666,667
|
| Price: | C$3.00
|
| Warrants: | No
|
| Agents: | Jennings Capital Inc. (lead), J.F. Mackie and Co. Ltd., National Bank Financial
|
| Announcement date: | Jan. 17
|
| Settlement date: | Feb. 5
|
| Stock symbol: | TSX Venture: AQL
|
| Stock price: | C$3.15 at close Jan. 16
|
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