Business
Urbana Corporation Closes Unit Offering for Proceeds of Over $20 million
Urbana Corporation Closes Unit Offering for Proceeds of Over $20 million
About this update from Urbana Corporation
[{"type":"text","content":"\n\n\n\nNov. 10, 2009 (Canada NewsWire Group) -- TORONTO, Nov. 10 /CNW/ -- Urbana Corporation (\"Urbana\") (TSX: URB, URB.A) is pleased to announce that it completed a closing relating to its previously announced short form prospectus offering (the \"Offering\") of units (\"Units\") through Blackmont Capital Inc. and National Bank Financial Inc., as co-lead agents for a syndicate including BMO Nesbitt Burns Inc., CIBC World Markets Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Scotia Capital Inc., TD Securities Inc., Cormark Securities Inc., Canaccord Capital Corporation and GMP Securities L.P. (collectively, the \"Agents\"). 10,536,320 Units have been sold for gross proceeds of over $20 million. A copy of the prospectus related to the Offering is available at www.sedar.com under Company Profiles - Urbana Corporation.Each Unit sold pursuant to the Offering for 1.90 consists of one non-voting Class A share (each a \"Non-Voting Class A Share\") in the capital of Urbana and one-half of one Series B Non-Voting Class A Share purchase warrant (each a \"Warrant\"). Each whole Warrant entitles the holder to purchase one Non-Voting Class A Share at an exercise price of $2.50 until November 10, 2011. The Units separated into Non-Voting Class A Shares and Warrants immediately upon the closing today.The net proceeds of the Offering will be used for general corporate purposes, including the purchase, directly or indirectly, of additional participations in various securities and derivatives exchanges as the opportunity arises.Urbana has granted the agents an over-allotment option which entitles the agents to purchase additional Non-Voting Class A Shares and Warrants to a maximum of 15% of the Non-Voting Class A Shares and Warrants issued pursuant to the Offering for a period of 30 days following today's closing.The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.Urbana is an investment fund corporation that is listed on the Toronto Stock Exchange. Urbana's current investment focus is acquiring interests in private and p...