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Sprott Resource Corp. Announces Pricing of Independence Contract Drilling, Inc.'s Initial Public Offering
TORONTO , Aug. 8, 2014 /CNW/ - Sprott Resource Corp. ("SRC" or "the Company") (TSX: SCP),...
About this update from Winchester Equity Corporation
[{"type":"text","content":"\n\nTORONTO, Aug. 8, 2014 /CNW/ - Sprott Resource Corp. (\"SRC\" or \"the Company\") (TSX: SCP), announced today that its investee company, Independence Contract Drilling, Inc. (NYSE: ICD), has priced its initial public offering of 10,000,000 shares of common stock at $11.00 per share. The shares will begin trading on the New York Stock Exchange under the ticker symbol \"ICD.\" The underwriters of the offering have a 30-day option to purchase up to an additional 1,500,000 shares from Independence Contract Drilling to cover over-allotments, if any.  The Company has agreed to purchase 600,000 shares from ICD, increasing the Company's ownership in ICD to 19.8% after giving effect to the offering and assuming the underwriters 30-day option to purchase additional shares is not exercised.  The offering is expected to close on or about August 13, 2014, subject to customary closing conditions.\n\nMorgan Stanley, RBC Capital Markets and Tudor, Pickering, Holt & Co. are acting as book-running managers for the offering. Canaccord Genuity, Capital One Securities, Cowen and Company, FBR, IBERIA Capital Partners L.L.C. and Johnson Rice & Company L.L.C. are acting as co-managers. The offering is being made only by means of a prospectus.  Potential investors can obtain a prospectus that meets the requirements of Section 10 of the Securities Act of 1933 from:\n\nMorgan Stanley & Co. LLCAttn: Prospectus Department180 Varick Street, 2nd FloorNew York, NY 10014\n\nRBC Capital Markets, LLCAttn: Prospectus DepartmentThree World Financial Center200 Vesey Street, 8th FloorNew York, New York 10281Telephone: (877) 822-4089\n\nTudor, Pickering, Holt & Co. Securities, Inc.Attn: Prospectus DepartmentHeritage Plaza1111 Bagby, Suite 5100Houston, TX 77002Telephone: (713) 333-7100\n\nTo obtain a copy of the prospectus free of charge, visit the U.S. Securities and Exchange Commission's website, www.sec.gov, and search under the registrant's name, \"Independence Contract Drilling, Inc.\"\n\nA registration statement relating to these securities has been filed with, and declared effective by, the SEC.  This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale w...