* To sell 9.6 mln shrs on bought-deal basis at C$1.40/shr
* To sell 1.8 mln on flow-through basis at C$1.70/shr
* Sees principal shareholder buying C$3.5 mln of shares
Sept 29 Second Wave Petroleum Inc SCS.V said
it would raise about C$16.5 million through an equity issue,
partly to fund exploration and development at its emerging Judy
Creek Pekisko oil play in Alberta.
The company said a syndicate of underwriters, led by
Wellington West Capital Markets, agreed to buy 9.6 million
shares at C$1.40 apiece on a bought deal basis, representing a
discount of about 24 percent to the shares' closing price on
The company said it would also sell about 1.8 million
shares on a flow-through basis at C$1.70 a share.
Second Wave said it granted the underwriters an
over-allotment option of 1.1 million shares at C$1.40 per
The company's principal shareholder, Brookfield Bridge
Lending Fund, is expected to subscribe to C$3.5 million of
shares under the offering, the company said.
Shares of the company were down more than 5 percent at
C$1.75 on the Venture Stock Exchange.
(Reporting by Amit Kumar in Bangalore; Editing by Aradhana