By Sheri Kasprzak
Atlanta, April 7 - Magnifoam Technology International Inc. said it has closed a private placement for C$10,504,500.
The company sold 4.47 million shares at C$2.35 each.
Underwriter Dundee Securities Inc. has an over-allotment option for up to 1.19 million additional shares, exercisable for 30 days after closing.
Based in Mississauga, Ont., Magnifoam designs, develops and manufactures engineered products using silicone and other cellular materials. The company plans to use the proceeds for working capital and general corporate purposes.
| Issuer: | Magnifoam Technology International Inc.
|
| Issue: | Stock
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| Amount: | C$10,504,500
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| Shares: | 4.47 million |
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| Price: | C$2.35
|
| Warrants: | No
|
| Underwriter: | Dundee Securities Inc.
|
| Settlement date: | April 7
|
| Stock price: | C$2.30 at close April 7
|
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