Business
Exchange Income Corporation Closes $98 Million Bought Deal Financing of Common Shares
Exchange Income Corporation Closes $98 Million Bought Deal Financing of Common Shares ...
About this update from Exchange Income Corporation
[{"type":"text","content":"\n\n\n\nExchange Income Corporation Closes $98 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\n\nCanada NewsWire\nWINNIPEG, Jan. 4, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nWINNIPEG, Jan. 4, 2017 /CNW/ - Exchange Income Corporation (TSX: EIF) (the \"Corporation\") announced today that it has closed its previously announced bought deal public offering (the \"Offering\") of 2,303,450 common shares (the \"Shares\") from treasury through a syndicate of underwriters co-led by National Bank Financial Inc., Laurentian Bank Securities Inc. and CIBC World Markets Inc. and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Raymond James Ltd., AltaCorp Capital Inc., Canaccord Genuity Corp., and Macquarie Capital Markets Canada Ltd. (the \"Underwriters\"). The Shares were issued at a price of $42.45 per Share, for gross proceeds to the Corporation of $97,781,453. This amount includes 300,450 Shares issued at the same price for gross proceeds of $12,754,103 on the exercise of the entire over-allotment option granted to the Underwriters. The net proceeds of the Offering will be used to repay indebtedness under the credit facilities of the Corporation which will then be available to be drawn, as required, to fund future acquisitions, including capital investments in aircraft leasing opportunities, and for general corporate purposes. \n\nAbout Exchange Income CorporationExchange Income Corporation is a diversified acquisition-oriented company, focused in two sectors: aerospace & 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 and operate in niche markets.\n\nThe Corporation currently operates two segments: Aerospace & Aviation and Manufacturing. The Aerospace & Aviation segment consists of the operations by Perimeter Aviation...