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Baylin Technologies Announces Closing of Bought Deal Offering
Baylin Technologies Announces Closing of Bought Deal Offering Canada NewsWire TO...
About this update from Baylin Technologies, Inc.
[{"type":"text","content":"\n\n\n\nBaylin Technologies Announces Closing of Bought Deal Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 10, 2018\n\n\n\n/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA./\n\n\n\nTORONTO, July 10, 2018 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the \"Company\" or \"Baylin\") is pleased to announce that it has closed its previously announced bought deal offering of subscription receipts (the \"Subscription Receipts\") and 6.5% extendible convertible unsecured debentures (the \"Debentures\", together with the Subscription Receipts, the \"Securities\") of the Company (the \"Offering\"). The Offering was conducted by a syndicate of underwriters led by Raymond James Ltd. and including Paradigm Capital Inc. and National Bank Financial Inc. (collectively, the \"Underwriters\"). The Subscription Receipts and Debentures were qualified by a prospectus supplement dated July 3, 2018 to a short form base shelf prospectus dated November 16, 2017 filed in each of the provinces and territories of Canada. The Offering is subject to the final acceptance of the Toronto Stock Exchange.\n\n\n \n \n\n \nAn aggregate of 7,419,355 Subscription Receipts and $17,250,000 principal amount of Debentures were sold pursuant to the Offering, including 967,742 Subscription Receipts and $2,500,000 principal amount of Debentures issued as a result of the Underwriters' full exercise of the over-allotment option. In consideration for the services provided by the Underwriters, the Company paid the Underwriters a cash commission equal to 3.0% for Securities purchased by certain directors and officers of the Company and 6.0% for the balance of the aggregate gross proceeds of the Offering.  The Company intends to use the net proceeds of the Offering to finance the previously announced proposed acquisition of Alga Microwave Inc. and for working capital and general ...