Business
Allen-Vanguard corporation increases size of bought deal to $50 million
Allen-Vanguard corporation increases size of bought deal to $50 million.
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, Feb. 20 /CNW Telbec/ - Allen-Vanguard Corporation (the \"Company\"\nor \"Allen-Vanguard\") (TSX: VRS) of Ottawa, Canada announced today that Versant\nPartners Inc. and Paradigm Capital Inc. have increased the size of the\npreviously announced bought deal to 10,000,000 common shares at a price of\nC$5.00 per share, for aggregate gross proceeds to the Company of C$50,000,000\n(the \"Offering\"). The underwriters will also have an option, exercisable for a\nperiod of 30 days following the closing date to purchase from the Company up\nto an additional 1,500,000 shares (up to 15% of the Offering) at the issue\nprice of C$5.00 for over-allotments and market stabilization purposes.\n\n\nThe Company intends to use the net proceeds of the Offering in\nfurtherance of corporate development plans announced February 14th, 2007,\nincluding acquisitions.\n\n\nThe Offering is expected to close on or about March 14th, 2007 and is\nsubject to certain conditions including, but not limited to, the receipt of\nall necessary approvals including the approval of the Toronto Stock Exchange\nand applicable securities regulatory authorities.\n\n\nThis news release does not constitute an offer to sell or a solicitation\nof an offer to buy any of the securities in the United States. The securities\nhave not been and will not be registered under the United States Securities\nAct of 1933, as amended or any state securities laws and may not be offered or\nsold within the United States or to U.S. Persons unless an exemption from such\nregistration is available. This press release shall not constitute an offer to\nsell or the solicitation of an offer to buy nor shall there be any sale of the\nsecurities in any State in which such offer, solicitation or sale would be\nunlawful.\n\n\nAbout Allen-Vanguard\n\n\nAllen-Vanguard Corporation and its subsidiaries worldwide operate under\nthe brand \"Allen-Vanguard\". The Company 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). The Company's equipment is in service with leading security\nand military forces in more than 120 countries. Product...