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Westaim announces $85 mln bought deal private placement of subscription receipts and $25 mln concurrent non-brokered private placement


Thursday, 3 Apr 2014 02:19pm EDT 

Westaim Corp:Enters into agreement with syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc. and including Cormark Securities Inc.Underwriters have agreed to purchase on private placement basis, 32,100,000 subscription receipts of at a price of $2.65 per Subscription Receipt for aggregate gross proceeds to Westaim of $85,065,000.Expects to complete concurrent non-brokered private placement of Subscription Receipts on same terms as Offering for amount of up to $25,016,00.Net proceeds will be used for general corporate purposes and to consider and possibly fund potential future acquisitions. 

Company Quote

2.55
-0.09 -3.41%
26 Nov 2014