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Superior Plus Corp Announces Completion Of Common Share Financing For Net Proceeds Of $137 Million

Wednesday, 27 Mar 2013 08:42am EDT 

Superior Plus Corp announced the closing of the issue and sale of an aggregate of 12,960,500 common shares in the capital of the Corporation at a price of $11.10 per common share. The net proceeds for the issue including the full exercise of the over-allotment option granted to the underwriters, issue costs and commissions are approximately $137 million. The common shares were offered to the public through a syndicate of underwriters which was co-led by Scotiabank, CIBC and National Bank Financial Inc., and including BMO Capital Markets, TD Securities Inc. and Cormark Securities Inc. As previously announced, Superior intends to use the net proceeds of the Offering initially to repay indebtedness under credit facility which will then be available to be drawn as required to fund the redemption of the remaining $25.0 million principal amount of 5.85% convertible unsecured subordinated debentures on April 9, 2013, Superior's previously announced $43 million expansion of hydrochloric acid production capacity at Port Edwards, Wisconsin and Saskatoon, Saskatchewan facilities and for working capital and/or general corporate purposes. 

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0.04 +0.29%
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