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Neo Performance Materials Announces Completion of $67.6 Million Bought Deal Treasury Offering of Common Shares
Neo Performance Materials Announces Completion of $67.6 Million Bought Deal Treasury Offe...
About this update from Neo Performance Materials, Inc.
[{"type":"text","content":"\n \n \n \n Neo Performance Materials Announces Completion of $67.6 Million Bought Deal Treasury Offering of Common Shares\n \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 \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n \n ,\n \n \n Sept. 16, 2022\n \n \n /CNW/ - Neo Performance Materials Inc. (\"\n \n Neo\n \n \", the \"\n \n Company\n \n \") (TSX: NEO) is pleased to announce that it has completed the previously announced treasury offering (the \"\n \n Offering\n \n \") of common shares of the Company (the \"\n \n Common Shares\n \n \") (see press release dated\n \n August 26\n \n , 2022).  The Company issued and sold from treasury an aggregate of 4,506,734 Common Shares (the \"\n \n Offered Shares\n \n \") at a price of\n \n $15.00\n \n per Offered Share for total gross proceeds to the Company of approximately\n \n $67.6 million\n \n , including the partial exercise of the over-allotment option.\n \n \n \n \n \n \n \n \n \n The Offering was made, on a bought deal basis, pursuant to an underwriting agreement dated\n \n September 1, 2022\n \n among the Company and Paradigm Capital Inc., as lead underwriter, and Canaccord Genuity Corp., Cormark Securities Inc., Raymond James Ltd. and Stifel Nicolaus Canada Inc. (collectively, the \"\n \n Underwriters\n \n \").\n \n \n Each of the directors and executive officers of the Company have agreed with the Underwriters that the Common Shares held by each of them will be subject to a 90-day lock-up period, subject to customary exceptions.\n \n \n In connection with the Offering, the Underwriters received a cash commission equal to 5% of the gross proceeds of the Offering.\n \n \n The Offered Shares were offered by way of a short form prospectus in all of the provinces of\n \n Canada\n \n other than\n \n Quebec\n \n .  Private placement offerings in\n \n the United States\n \n were made to \"qualified institutional buyers\" pursuant to Rule 144A of the United Sta...