By Sheri Kasprzak
New York, Jan. 31 - Coastal Contacts Inc. said it completed its previously announced private placement, with a fully exercised over-allotment option, for C$22.5 million.
The company issued a total of 9 million special warrants at C$2.50 each, including a greenshoe for 1 million additional special warrants exercised by a syndicate of underwriters led by Versant Partners Inc.
The other members of the syndicate were Orion Securities Inc. and Octagon Capital Corp.
Each special warrant is exchangeable one a one-for-one basis once a final prospectus covering the shares is filed.
On Jan. 18, the deal was priced as a C$20 million offering of 8 million special warrants under the same terms.
Proceeds will be used for international mergers, sales and marketing initiatives and working capital.
Based in Vancouver, B.C., Coastal Contacts is a direct marketer of contact lenses.
| Issuer: | Coastal Contacts Inc.
|
| Issue: | Special warrants exchangeable for shares
|
| Amount: | C$22.5 million
|
| Special warrants: | 9 million (includes greenshoe for 1 million special warrants)
|
| Price: | C$2.50
|
| Warrants: | No
|
| Underwriters: | Versant Partners Inc. (lead), Orion Securities Inc., Octagon Capital Corp.
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 31
|
| Stock symbol: | TSX Venture: COA
|
| Stock price: | C$2.69 at close Jan. 18
|
| Stock price: | C$1.98 at close Jan. 31
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
