Business
5N Plus Inc. Announces a $40 Million New Issue of Units, Consisting of a $20 Million Public Bought-Deal Offering and a $20 Million Concurrent Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES MONT...
About this update from 5n Plus Inc.
[{"type":"text","content":"\n\n\n\n\n\nNOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE\n UNITED STATES\n\n\nMONTREAL, May 16, 2012 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the\n leading producer of specialty metal and chemical products, announced\n today that it has entered into agreements regarding an equity financing\n of an aggregate of 12,903,613 units at a price of $3.10 per unit, for\n aggregate gross proceeds of $40 million.  5N Plus intends to use the\n net proceeds from the financing to reduce its indebtedness under its\n revolving credit facility and for general corporate purposes.\n\n\nEach unit will be comprised of one common share and one-half of a common\n share purchase warrant.  Each full warrant will entitle its holder to\n acquire one additional common share of 5N Plus at a price of $5.00 for\n 24 months.\n\n\nIn connection with the financing, 5N Plus entered into an agreement with\n a syndicate of underwriters led by National Bank Financial Inc.\n pursuant to which the underwriters have agreed to purchase, on a\n bought-deal basis, 6,452,000 units of 5N Plus at a price of $3.10 per\n unit, for aggregate gross proceeds to 5N Plus of $20 million. The units\n will be offered by way of short form prospectus in each of the\n provinces of Canada, as well as in the United States under applicable\n registration statement exemptions. 5N Plus granted an over-allotment\n option to the underwriters of the offering, entitling them to purchase,\n for a period of 30 days from the closing of the offering, up to 967,800\n million additional units at a price of $3.10 per unit, for additional\n gross proceeds to 5N Plus of $3 million, to cover over-allotments and\n for market stabilization purposes, if any.\n\n\n5N Plus also entered into an agreement with Investissement Québec\n pursuant to which Investissement Québec agreed to purchase, by way of\n concurrent private placement, 6,451,613 units of 5N Plus at a price of\n $3.10 per unit, for aggregate gross proceeds to 5N Plus of $20 million.\n The common shares and warrants issued under the private placement will\n be subject to a statutory four-month hold period.\n\n\nIn connection with the public bought-deal offering, 5N Plus will file a\n preliminary short form prospectus in all provinces of Canada by May 23,\n 2012. The prospectus offering and ...