By Abigail W. Adams
Portland, Me., Oct. 13 – good natured Products Inc. priced C$15 million in 7% convertible unsecured subordinated debentures, according to a company news release.
National Bank Financial Inc. and Beacon Securities Ltd., and including Canaccord Genuity, Integral Wealth Securities Ltd., Raymond James Ltd., Paradigm Capital Inc. and PI Financial Corp. were underwriters for the offering, which is being marketed via short-form prospectus in all provinces in Canada with the exception of Quebec.
The offering carries a greenshoe of C$2.25 million.
Net proceeds will be used to repay debt under the company’s credit facilities.
good natured is a Vancouver, B.C.-based plant-based household products company.
| Issuer: | good natured Products Inc.
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| Securities: | Convertible unsecured subordinated debentures
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| Amount: | C$15 million
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| Greenshoe: | C$2.25 million
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| Maturity: | Oct. 31, 2026
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| Bookrunners: | National Bank Financial Inc. and Beacon Securities Ltd. and including Canaccord Genuity, Integral Wealth Securities Ltd., Raymond James Ltd., Paradigm Capital Inc. and PI Financial Corp.
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| Coupon: | 7%
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| Conversion price: | C$1.06
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 28
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| Distribution: | Short-form prospectus
|
| Stock symbol: | TSX-V: GDNP
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| Stock price: | C$0.96
|
| Market capitalization: | C$202.74 million
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