10/10 1:25P North Amer Palladium To Sell 23.2M Shrs At C$9.50/Shr
North Amer Palladium/Shrs -2: Grants 1.9M-Shr Option
THUNDER BAY, Ont. (Dow Jones)--North American Palladium Ltd. (T.PDL) has
priced an offering of 23,157,895 shares at C$9.50 each, for gross proceeds of
C$220 million.
As reported, North American Palladium announced plans in late August for a
share offering in Canada and the U.S.
In a news release, North American Palladium said it granted the underwriters
of the offering a 30-day option to purchase up to another 1,894,737 common
shares on the same terms.
The company said the underwriting syndicate is being led by BMO Nesbitt
Burns Inc.
The company said its principal shareholder, Kaiser-Francis Oil Co., has
agreed to purchase 13,157,895 common shares under this offering to maintain
its current ownership interest in the company.
The Toronto Stock Exchange and the American Stock Exchange have
conditionally approved the listing of the offered common shares, subject to
the company fulfilling the requirements of such exchanges.
Closing of the share offering is expected on about Oct. 13.
At last report, North American Palladium, which produces platinum-group
metals, had 12.5 million shares outstanding.
Company Web Site: napalladium.com
-Judy McKinnon, Dow Jones Newswires
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