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DHX Media closes bought deal offering to raise CDN$65 million
DHX Media closes bought deal offering to raise CDN$65 million DHX Media closes bou...
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[{"type":"text","content":"\n\n\n\nDHX Media closes bought deal offering to raise CDN$65 million\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\n\n\n\n\n\nDHX Media closes bought deal offering to raise CDN$65 million\nCanada NewsWire\nHALIFAX, May 2, 2016\n\n\n\nHALIFAX, May 2, 2016 /CNW/ - DHX Media Ltd. (\"DHX\" or the \"Company\") (NASDAQ: DHXM; TSX: DHX.A, DHX.B), the world's leading independent, pure-play kids' content company, is pleased to announce it has closed its previously announced bought deal public offering of shares of the Company (the \"Offering\"), comprised of both variable voting shares and common voting shares (collectively, the \"Shares\") through a syndicate of underwriters led by Canaccord Genuity Corp. DHX issued 8,667,000 Shares of the Company at a price of CDN$7.50 per Share for aggregate gross proceeds of CDN$65.0 million. \n\nDHX has granted to the Underwriters an over-allotment option exercisable at any time up to 30 days after closing of the Offering to acquire up to an additional 1,300,050 Shares. In the event that the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be approximately CDN$74.8 million.\n\nAs previously disclosed, the net proceeds from the Offering will be used to repay borrowings under the Company's term credit facility maturing July 31, 2019, fund branded content properties and associated global distribution plans as well as to pursue additional brand opportunities, and for general corporate and working capital purposes, including potential acquisitions.\n\nNo securities regulatory authority has either approved or disapproved the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.\n\nCopies of the prospectus supplement and the accompanying final short form base shelf prospectus may be obtaine...