Business
Enterprise announces increase to previously announced bought deal equity financing to $24 million
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNI...
About this update from Enterprise Group, Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nST. ALBERT, AB, March 4, 2014 /CNW/ - Enterprise Group, Inc.\n (\"Enterprise,\" or the \"Company\") (TSX:E) is pleased to announce that it\n has agreed to increase the size of its previously announced bought deal\n equity financing through a syndicate of underwriters led by Canaccord\n Genuity Corp. and GMP Securities L.P. (collectively the\n \"Underwriters\"). Under the new terms of the financing, the Underwriters\n have agreed to purchase, on a bought deal basis, 24,000,000 common\n shares of Enterprise (the \"Common Shares\") at a price of $1.00 per\n Common Share, for aggregate gross proceeds of $24,000,000 (the\n \"Offering\").\n\n\nIn addition, the Underwriters have been granted an option (the\n \"Over-Allotment Option\") to purchase up to an additional 3,600,000\n Common Shares to cover over-allotments, if any, for gross proceeds of\n $3,600,000. If the Over-Allotment Option is fully exercised, gross\n proceeds from the Offering will be $27,600,000. The Over-Allotment\n Option is exercisable in whole or in part for a period of 30 days\n following closing of the Offering.\n\n\nEnterprise will use the net proceeds from the Offering to expand the\n Company's capital program, as well as for general corporate purposes.\n\n\nClosing of the Offering is expected to occur on or about March 25, 2014\n and is subject to certain conditions including, but not limited to, the\n receipt of all necessary approvals including the approval of the\n Toronto Stock Exchange.\n\n\nThe securities offered have not been and will not be registered under\n the U.S. Securities Act of 1933, as amended, and may not be offered or\n sold in the United States absent registration or applicable exemption\n from the registration requirements. This press release shall not\n constitute an offer to sell or the solicitation of an offer to buy nor\n shall there be any sale of the securities in any jurisdiction in which\n such offer, solicitation or sale would be unlawful.\n\n\nAbout Enterprise Group, Inc.\n\n\nEnterprise Group, Inc. is a consolidator of construction services\n companies operating in the energy, utility and transportation\n infrastructure industries. The Company's focus is primarily\n construction services and specialized equipment rent...