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Aston Hill Financial Inc Announces Closing of Bought Deal Offering


Wednesday, 7 Aug 2013 08:40am EDT 

Aston Hill Financial Inc announced that it has completed its previously announced bought deal offering (the Bought Deal) of subscription receipts of Aston Hill (the Subscription Receipts) for aggregate gross proceeds to Aston Hill of $21,420,000. Aston Hill intends to use the net proceeds from the Bought Deal to fund the purchase price of its previously announced acquisition of 80% of the outstanding shares of Connor, Clark & Lunn Capital Markets Inc. (the Acquisition) with any excess proceeds to be used for working capital and general corporate purposes. The Bought Deal was underwritten by a syndicate of underwriters co-led by CIBC, RBC World Markets and Scotiabank (the Underwriters). Pursuant to an underwriting agreement dated July 19, 2013 (the Underwriting Agreement), the Underwriters agreed to purchase, on a bought deal basis, 13,600,000 Subscription Receipts at a price of $1.40 per Subscription Receipt for gross proceeds to Aston Hill of $19,040,000. 

Company Quote

1.24
-0.05 -3.88%
29 Aug 2014