By Laura Lutz
Des Moines, May 14 - U.S. Geothermal Inc. arranged a private placement of shares for C$15 million.
The company plans to sell 6,818,182 shares at C$2.20 each.
The underwriters, a syndicate of Canadian investment dealers, have a greenshoe for up to 2,272,718 additional shares.
Settlement is expected on June 5.
If a registration statement for the shares has not become effective within five months of closing, the investors will receive liquidated damages of one-tenth share for every one share received in the placement.
U.S. Geothermal is a renewable energy development company based in Toronto.
| Issuer: | U.S. Geothermal Inc.
|
| Issue: | Shares
|
| Amount: | C$15 million
|
| Shares: | 6,818,182
|
| Greenshoe: | For 2,272,718 shares
|
| Price: | C$2.20
|
| Warrants: | No
|
| Pricing date: | May 14
|
| Settlement date: | June 5
|
| Stock symbol: | TSX Venture: GTH
|
| Stock price: | C$2.76 at close May 11
|
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