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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Thomson Reuters StreetEvents

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Element Financial Corp Arranges $125 Million Financing-Canada Stockwatch News

Wednesday, 20 Feb 2013 11:38am EST 

Canada Stockwatch News reported that Element Financial Corp. has agreed to sell, on a bought-deal basis, an aggregate of 16.13 million common shares, at a price of $7.75 per share, to a syndicate of underwriters co-led by GMP Securities LP, Barclays and BMO Capital Markets, for aggregate gross proceeds of $125,007,500. The net proceeds of the offering will be used to originate and finance, directly and indirectly, finance assets and for general corporate purposes. The company will file a preliminary short-form prospectus for the offering with Canadian securities regulatory authorities in all Canadian provinces. The offering is scheduled to close on or about March 8, 2013, subject to certain conditions, including obtaining all necessary regulatory approvals. 

Company Quote

0.15 +1.02%
1:51pm EDT