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Mosaic Capital Corporation Closes $15 Million Convertible Debenture Financing
Mosaic Capital Corporation Closes $15 Million Convertible Debenture Financing Mosa...
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[{"type":"text","content":"\n\n\n\nMosaic Capital Corporation Closes $15 Million Convertible Debenture Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nMosaic Capital Corporation Closes $15 Million Convertible Debenture Financing\nCanada NewsWire\nCALGARY, Nov. 10, 2016\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nCALGARY, Nov. 10, 2016 /CNW/ - Mosaic Capital Corporation (\"Mosaic\") (TSX-V Symbols: M and M.PR.A) announced today the closing of its previously announced public offering (the \"Offering\") of 7% convertible unsecured senior subordinated debentures (the \"Debentures\"). The Offering was underwritten by a syndicate of underwriters led by Canaccord Genuity Corp. and including GMP Securities L.P., Raymond James Ltd., Echelon Wealth Partners Inc., Industrial Alliance Securities Inc., AltaCorp Capital Inc., Cormark Securities Inc., Haywood Securities Inc. and Mackie Research Capital Corporation (collectively, the \"Underwriters\"). Pursuant to the Offering, $15,000,000 principal amount of the Debentures were issued.\n\nThe Debentures have a face value of $1,000 per Debenture and bear interest at a rate of 7.0% per annum, payable semi-annually in arrears on June 30 and December 31 in each year (each an \"Interest Payment Date\"), commencing on June 30, 2017, with a maturity date of December 31, 2021 (the \"Maturity Date\"). \n\nThe Debentures are convertible into approximately 111.11 common shares of Mosaic (the \"Shares\") per $1,000 principal amount, at any time prior to the close of business on the earlier of the business day immediately preceding: (i) the Maturity Date; (ii) if called for redemption, the date fixed for redemption by Mosaic; or (iii) the payment date, if called for repurchase pursuant to a mandatory repurchase, at a conversion price of $9.00 per Share, subject to adjustment in certain events (the \"Conversion Price\"). Holders who convert their Debentures will receive, in addition to...