rights offering details Target Capital rights offering
Target Capital Inc (C:TCI)
Shares Issued 99,599,620
Last Close 5/18/2018 $0.09
Friday May 18 2018 - Rights Offering
Target Capital Inc. will offer to shareholders of record on May 28, 2018, rights to purchase common share units of the company. One right will be issued for each common share of the company held. Each unit comprises one common share and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of 10 cents until June 22, 2023. Four rights and six cents are required to purchase one unit. The expiry date for the rights offering is June 22, 2018. As at May 16, 2018, the company has 95,518,539 shares issued and outstanding. The warrants issued as part of the units will not trade on the TSX Venture Exchange.
Effective at the opening, May 25, 2018, the shares of the company will trade ex rights and the rights will commence trading at that time on a when-issued basis. The company is classified as an investment management company.
Summary
Basis of offering:four rights exercisable for one unit at six cents per unit Record date:May 28, 2018 Shares trade ex rights:May 25, 2018 Rights called for trading:May 25, 2018 Rights trade for cash:June 19, 2018, at 12 p.m. EST (Trading in the rights shall be for cash for the three trading days preceding the expiry date.)Rights expire:June 22, 2018, at 5 p.m. EST Settlement:June 19, 2018, to settle June 20, 2018; June 20, 2018, to settle June 21, 2018; June 21, 2018, to settle June 22, 2018; June 22, 2018, to settle June 22, 2018 Rights trading symbol:TCI.RT Rights Cusip No.:876129115 Subscription agent and trustee:AST Trust Company (Canada) Authorized jurisdictions:all provinces and territories of Canada (other than Quebec)