Company will sell 1,875,000 subscription receipts at C$11.60 apiece
By Devika Patel
Knoxville, Tenn., Nov. 20 - New Look Eyewear Inc. said it has arranged a C$21.75 million private placement of subscription receipts with a C$3.25 million greenshoe.
The company will sell 1,875,000 subscription receipts at C$11.60 apiece, a 5.92% discount to the Nov. 19 closing share price of C$12.33.
Each subscription receipt converts to a series A common share.
The deal will be conducted on a bought-deal basis by a syndicate led by GMP Securities LP and including Acumen Capital Finance Partners Ltd. and National Bank Financial Inc.
Settlement is expected on Dec. 2.
The provider of eye care products and services is based in Montreal.
| Issuer: | New Look Eyewear Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$21.75 million
|
| Greenshoe: | C$3.25 million
|
| Receipts: | 1,875,000
|
| Price: | C$11.60
|
| Warrants: | No
|
| Agents: | GMP Securities LP (lead), Acumen Capital Finance Partners Ltd. and National Bank Financial Inc.
|
| Pricing date: | Nov. 20
|
| Settlement date: | Dec. 2
|
| Stock symbol: | Toronto: BCI
|
| Stock price: | C$12.33 at close Nov. 19
|
| Market capitalization: | C$127.63 million
|
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