15th Apr 2008 07:00
Canaccord Capital Inc. announced $60 million bought deal financing
VANCOUVER, April 15 /CNW/ - Canaccord Capital Inc. ("Canaccord") announced on April 14, 2008 that it had entered into an agreement for a fully underwritten bought deal financing with a syndicate of underwriters led by Genuity Capital Markets, Canaccord Capital Corporation and CIBC World Markets Inc. and including Macquarie Capital Markets Canada Ltd., TD Securities Inc. and Thomas Weisel Partners Canada Inc (the "Underwriters") (the "Offering"). Under the terms of the Offering, Canaccord will issue 5,855,000 Common Shares at a price of CDN$10.25 per Common Share for gross proceeds of CDN$60,013,750. The Underwriters have the option to purchase up to an additional 878,250 Common Shares at the issue price at any time prior to 30 days following the closing date of the Offering, for additional gross proceeds of up to CDN$9,002,062.50. The net proceeds of the Offering will be used for business development and general corporate purposes.
The Common Shares to be issued under the Offering will be offered by way of a short-form prospectus in all provinces of Canada and on a private placement basis in the United States pursuant to one or more exemptions from the registration requirements under the United States Securities Act of 1933, as amended. The Common Shares will also be offered on a private placement basis in the United Kingdom in compliance with the Financial Services and Markets Act 2000. The Offering is scheduled to close on or about April 30, 2008. The Offering is subject to certain conditions including but not limited to the receipt of all necessary approvals, including applicable stock exchange and securities regulatory authority approvals, and admission to trading of the new Common Shares the subject of the Offering on the TSX and AIM.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. ABOUT CANACCORD CAPITAL INC.:
Through its principal subsidiaries, Canaccord Capital Inc. is a leading independent, full service investment dealer in Canada with capital markets operations in the United Kingdom and the United States of America. Canaccord is publicly traded on both the Toronto Stock Exchange and AIM, a market operated by the London Stock Exchange. Canaccord has operations in two of the principal segments of the securities industry: private client services and capital markets. Together, these operations offer a wide range of complementary investment products, brokerage services and investment banking services to Canaccord's private, institutional and corporate clients. Canaccord has approximately 1,676 employees worldwide in 30 offices, including 23 Private Client Services offices located across Canada. Canaccord Adams, the international capital markets division, has operations in Toronto, London, Boston, Vancouver, New York, Calgary, Montreal, San Francisco, Houston and Barbados.
For further information: North America Media: Scott Davidson, Managing Director, Global Head of Marketing & Communications, Phone: (416) 869-3875, email: scott_davidson(at)canaccord.com; For investor relations inquiries contact: Katherine Young, Vice President, Investor Relations, Phone: (604) 643-7013, email: katherine_young(at)canaccord.com; London Media: Bobby Morse or Ben Willey, Buchanan Communications (London), Phone: +44207-466-5000, email: bobbym(at)buchanan.uk.com; Nominated Adviser and Broker: Mark Dickenson, Landsbanki Securities (UK) Limited, Phone: +44 (0) 207 426 9586, email: Mark.Dickenson(at)landsbanki.com (CCI)
vendorRelated Shares:
CF..L