from the July, 2012 issue of Compound Semiconductors magazine:
https://www.compoundsemiconductor.net/pdf/magazines/2012/cs-2012-volume-18-issue-5.pdf
5N Plus completes $40 million equity financing
The provider of group III materials such as indium and gallium, used in the MOCVD industry, has issued of an aggregate of 12,903,613 units at a price of $3.10 per unit.
Canadian based firm, 5N Plus Inc., has completed its previously announced “bought deal” public offering and concurrent private placement announced on 16th May.
Each of the units is comprised of one common share and one half of a common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share at a price of $5.00 for 24 months.
The warrants are listed on the Toronto Stock Exchange under the trading symbol “VNP.WT” and have already begun trading.
In the “bought deal” public offering, 5N Plus issued and sold 6,452,000 units for gross proceeds of $20 million to a syndicate of underwriters led by National Bank Financial Inc. and including GMP Securities L.P., TD Securities Inc., HSBC Securities (Canada) Inc., CIBC World Markets Inc., Cormark Securities Inc., M Partners Inc., NCP Northland Capital Partners Inc., Stonecap Securities Inc. and Versant Partners Inc.
The offering was made by way of short form prospectus dated May 30th, 2012 filed with the securities commissions of each of the provinces of Canada.
In the concurrent private placement, 5N Plus issued and sold a further 6,451,613 units to Investissement Québec for gross proceeds of $20 million. The common shares and warrants issued to Investissement Québec are subject to restrictions on resale for four months under applicable securities legislation.
5N Plus will use the net proceeds from the “bought deal” public offering and concurrent private placement to reduce indebtedness incurred under its revolving credit facility with a syndicate of financial institutions.
Following the closing of the public offering and concurrent private placement, there are 83.9 million common shares of 5N Plus issued and outstanding.
(BTW, a story about Opel and Peter Copetti appears on page 97 in this same issue.)
