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Exchange Income Corporation Closes $75 Million Bought Deal Financing of Common Shares
Exchange Income Corporation Closes $75 Million Bought Deal Financing of Common Shares ...
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[{"type":"text","content":"\n\n\n\nExchange Income Corporation Closes $75 Million Bought Deal Financing of Common Shares\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\nExchange Income Corporation Closes $75 Million Bought Deal Financing of Common Shares\nCanada NewsWire\nWINNIPEG, Sept. 17, 2015\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nWINNIPEG, Sept. 17, 2015 /CNW/ - Exchange Income Corporation (TSX: EIF) (the \"Corporation\") announced today that it has closed its previously announced public offering (the \"Offering\"), on a bought deal basis, of 3,019,000 common shares (the \"Shares\") from treasury through a syndicate of underwriters co-led by National Bank Financial Inc. and Laurentian Bank Securities Inc. and including CIBC World Markets Inc.,TD Securities Inc., Scotiabank, RBC Capital Markets Inc., Raymond James Ltd., and Altacorp Capital Inc. (the \"Underwriters\"). The Shares were sold at a price of $24.85 per Share, for gross proceeds to the Corporation of $75,022,150. The net proceeds of the Offering will be used to reduce bank indebtedness, fund future acquisitions and for general corporate purposes. \n\nThe Corporation has also granted to the underwriters an over-allotment option to purchase 452,850 additional Shares, representing 15% of the size of the offering. The over-allotment option may be exercised until 30 days following the closing of the offering. \n\nAbout Exchange Income Corporation Exchange Income Corporation is a diversified acquisition-oriented company, focused in two sectors: aviation services and equipment, and manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth.\n\nThe Corporation currently operates two segments: Aviation and Manufacturing. The Aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters, ...