News Column

Canada : PETROWEST CORPORATION enters into $20 million bought deal financing

August 26, 2014



Petrowest Corporation has inked an agreement with a syndicate of underwriters led by Beacon Securities Limited (collectively, the "Underwriters") which have decided to purchase, on a "bought deal" basis 16,000,000 class A common shares (the "Common Shares") of the Company.

The purchase will be at a price of $1.25 per Common Share, for aggregate gross proceeds of $20 million.

Also, the Company has granted the Underwriters an over-allotment option, which can be exercised by the Underwriters either in whole or in part at any time on or up to 30 days after the closing of the offering, for purchasing nearly an additional 2,400,000 Common Shares.

In case if the option is exercised in its entirety, the aggregate gross proceeds of the offering will be $23.0 million.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: TendersInfo (India)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters