Company sells 26,976,000 of its subscription receipts at C$25.20 apiece
By Devika Patel
Knoxville, Tenn., Dec. 2 – PrairieSky Royalty Ltd. said it completed a C$679.8 million non-brokered private placement of subscription receipts. The deal priced for C$680.4 million on Nov. 9.
The company sold 26,976,000 subscription receipts at C$25.20, a 3.08% discount to the Nov. 6 closing share price of C$26.00.
Each subscription receipt converts to a common share.
Proceeds will be used to help acquire a substantial portion of Canadian Natural Resources Ltd.’s royalty assets for C$1.8 billion.
The Calgary, Alta., company invests in petroleum and natural gas asset royalties.
| Issuer: | PrairieSky Royalty Ltd.
|
| Issue: | Subscription receipts
|
| Amount: | C$679,795,200
|
| Receipts: | 26,976,000
|
| Price: | C$25.20
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | Nov. 9
|
| Settlement date: | Dec. 2
|
| Stock symbol: | Toronto: PSK
|
| Stock price: | C$26.00 at close Nov. 6
|
| Market capitalization: | C$3.94 billion
|
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