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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (3598)3/28/2014 9:04:50 AM
From: Goose94Read Replies (2) of 202930
 
Gear Energy (GXE-T) March 28, '14 has closed its previously announced bought-deal offering of common shares of Gear. Pursuant to the offering, the company issued 15,875,000 common shares (including an upsize of 1.5 million common shares from the original offering and 1,875,000 common shares issued pursuant to the exercise in full of the overallotment option granted to the underwriters) at $4.00 per common share for aggregate gross proceeds of $63.5-million. The common shares were sold by a syndicate of underwriters co-led by FirstEnergy Capital Corp. and Peters & Co. Ltd., and including RBC Capital Markets Inc., GMP Securities LP, Haywood Securities Inc. and AltaCorp. Capital Inc.

Net proceeds from the offering will initially be used to temporarily repay outstanding bank indebtedness, and will subsequently be used to finance a portion of the company's continuing capital program and for general corporate purposes.
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