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Allen-Vanguard Corporation announces closing of $50,000,000 bought deal financing
Allen-Vanguard Corporation announces closing of $50,000,000 bought deal financing.
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nOTTAWA, March 9 /CNW Telbec/ - Allen-Vanguard (TSX:VRS) is pleased to\nannounce today that it has closed its previously announced bought deal\noffering for gross proceeds of $50,000,000. The net proceeds from the offering\nwill be used in furtherance of corporate development plans announced\nFebruary 14, 2007, including acquisitions, and for working capital and general\ncorporate purposes. The underwriters, Versant Partners Inc. and Paradigm\nCapital Inc., purchased 10,000,000 common shares from the Company at an issue\nprice of $5.00 per share. In addition, the Company has granted the\nunderwriters an option to purchase up to an additional 1,500,000 common shares\n(up to 15% of the offering) at the issue price of C$5.00 per share, for\nover-allotment and market stabilization purposes, which option shall be\nexercisable for 30 days following the closing of the offering.\n\n\nThe securities offered have not been and will not be registered under the\nUnited States Securities Act of 1933, as amended (the "U.S. Securities Act")\nor any state securities laws. Accordingly, subject to certain exceptions,\nthese securities may not be offered, sold or delivered, and the short form\nprospectus and/or this press release do not constitute an offer to sell or a\nsolicitation of an offer to buy any of the aforementioned securities within\nthe United States or to or for the benefit of, U.S. persons (as defined in the\nU.S. Securities Act).\n\n\nAbout Allen-Vanguard\n\n\nAllen-Vanguard Corporation and its subsidiaries worldwide operate under\nthe brand "Allen-Vanguard". Allen-Vanguard develops and markets technologies,\ntools and training for defeating and minimizing the effects of hazardous\ndevices and materials, whether Chemical, Biological, Radiological, Nuclear or\nExplosive ("CBRNE"). Allen-Vanguard's equipment is in service with leading\nsecurity and military forces in more than 120 countries. Products include\nElectronic Counter-Measures ("ECM") equipment for jamming remote detonation of\nterrorist devices, specialty security equipment for Explosive Ordnance\nDisposal ("EOD"), remote intervention robots for hazardous applications,\nvehicle barrier systems, and personal pr...