Nuclear Fuels Corporation, an Ontario based company, recently announced a bought deal private placement of $5 million of non-voting Class B Preferred Shares.
The offering was made to a group of underwriters led by TD Securities Inc., as lead underwriter. Furthermore, the offering was subject to regulatory approval, including acceptance by the Toronto Stock Exchange.
The Private Placement consists of 5,000 Class B Preferred Shares each with an issue price of $1,000 and no accrued or cumulative dividends. The Class B Preferred Shares will be non-voting and non-participating securities. Proceeds from the offering will be used to fund future capital expenditures and general corporate expenses.
Additionally, the Class B Preferred Shares have conversion rights that may be exercised, at the issuer’s option at any time on or after the two-year anniversary of the closing of the offering, to convert into common shares of the company. This conversion is subject to the company’s articles, and certain adjustments.
The bought deal private placement structure provides the issuer with a certain element of exertion and control over its offering. According to Bill Jones, CEO of Nuclear Fuels Corporation, the company “saw the bought deal private placement structure as a pragmatic and sensible way for our company to raise capital, secure funding and de-risk our venture”.
The company’s stockholders have already shown great support and enthusiasm for the structure, providing Nuclear Fuels Corporation with the capital to expand its operations and secure a more favourable financial future.
Central to the success of the offering was the underwriters who, according to Jones, “brought experience, strategic financial advice and industry-specific knowledge to the table.” The underwriters’ knowledge and quick action also ensured that the stockholders of Nuclear Fuels Corporation benefited maximally from the offering.
In a difficult financial climate, the underwriters worked diligently and managed to secure funding that not only meets the company’s short-term needs, but also provides the company with sufficient capital to allow for sustainable future growth.
Nuclear Fuels Corporation is confident that the long-term success of the company is secured by the bought deal private placement structure, and by the industry-specific knowledge and financial advice provided by the underwriters.
Nuclear Fuels Corporation, an Ontario based company, recently announced a bought deal private placement of $5 million of non-voting Class B Preferred Shares.
The offering was made to a group of underwriters led by TD Securities Inc., as lead underwriter. Furthermore, the offering was subject to regulatory approval, including acceptance by the Toronto Stock Exchange.
The Private Placement consists of 5,000 Class B Preferred Shares each with an issue price of $1,000 and no accrued or cumulative dividends. The Class B Preferred Shares will be non-voting and non-participating securities. Proceeds from the offering will be used to fund future capital expenditures and general corporate expenses.
Additionally, the Class B Preferred Shares have conversion rights that may be exercised, at the issuer’s option at any time on or after the two-year anniversary of the closing of the offering, to convert into common shares of the company. This conversion is subject to the company’s articles, and certain adjustments.
The bought deal private placement structure provides the issuer with a certain element of exertion and control over its offering. According to Bill Jones, CEO of Nuclear Fuels Corporation, the company “saw the bought deal private placement structure as a pragmatic and sensible way for our company to raise capital, secure funding and de-risk our venture”.
The company’s stockholders have already shown great support and enthusiasm for the structure, providing Nuclear Fuels Corporation with the capital to expand its operations and secure a more favourable financial future.
Central to the success of the offering was the underwriters who, according to Jones, “brought experience, strategic financial advice and industry-specific knowledge to the table.” The underwriters’ knowledge and quick action also ensured that the stockholders of Nuclear Fuels Corporation benefited maximally from the offering.
In a difficult financial climate, the underwriters worked diligently and managed to secure funding that not only meets the company’s short-term needs, but also provides the company with sufficient capital to allow for sustainable future growth.
Nuclear Fuels Corporation is confident that the long-term success of the company is secured by the bought deal private placement structure, and by the industry-specific knowledge and financial advice provided by the underwriters.
