Business
Enterprise Group, Inc. announces closing of $27.6 million bought deal equity financing including exercise in full of over-allotment option
/NOT FOR RELEASE IN THE UNITED STATES OR DISSEMINATION OF UNITED STATES NEWS WIRE SERV...
About this update from Enterprise Group, Inc.
[{"type":"text","content":"\n\n\n/NOT FOR RELEASE IN THE UNITED STATES OR DISSEMINATION OF UNITED STATES\n NEWS WIRE SERVICES/\n\n\nST. ALBERT, AB, March 25, 2014 /CNW/ - Enterprise Group, Inc.\n (\"Enterprise\" or the \"Company\") (TSX:E) is pleased to announce that it\n has closed its previously announced bought deal equity financing of\n 27,600,000 common shares (\"Common Shares\") of the Company, which\n includes 3,600,000 Common Shares issued pursuant to the exercise in\n full of the over-allotment option, at a price of $1.00 per Common Share\n for aggregate gross proceeds of $27,600,000 (the \"Financing\"). The\n Financing was underwritten by a syndicate of underwriters led by\n Canaccord Genuity Corp. and GMP Securities L.P. and included Jennings\n Capital Inc., PI Financial Corp. and Salman Partners Inc.\n\n\nThe net proceeds from the Financing will be used to accelerate the\n Company's capital expenditure program, as well as for general working\n capital purposes.\n\n\nThe Common Shares have not been, nor will they be registered under the\n United States Securities Act of 1933, as amended, and may not be offered or sold within the United States\n absent U.S. registration or an applicable exemption from such\n registration requirements. This press release does not constitute an\n offer for sale or the solicitation of an offer to buy Common Shares in\n the United States or in any jurisdiction in which such offer,\n solicitation or sale would be unlawful.\n\n\nAbout Enterprise Group, Inc.\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 rental. The Company's\n strategy is to acquire complementary service companies in Western\n Canada, consolidating capital, management and human resources to\n support continued growth. Enterprise became a Western Canadian leader\n in flameless heat technology in September 2012 with its acquisition of\n Artic Therm International Ltd., a leader in underground infrastructure\n construction in June 2013 with the acquisition of Calgary Tunnelling &\n Horizontal Augering Ltd., and a leader in oilfield service rentals in\n January 2014 with the acquisition of Hart Oilfield Rentals Ltd.\n\n\nForward Looking Information\nCertain st...