Bought Dealco-led by CIBC and Canaccord Capital Corporation to sell 5,250,000shares on a bought deal basis at a price of $7.65 per share to raisegross proceeds of $40 million
also
Newalta has applied to the Alberta Energy Resources Conservation Board("ERCB") for the refund of $25 million in letters of credit, which arecurrently included in Newalta's funded senior debt. The ERCBanticipates returning the letters of credit to Newalta within 30 days.
"This financing plus the return of the letters of credit will providegreater than $63 million in additional financial capacity to strengthenand grow our business and to deliver superior returns to ourinvestors," added Mr. Cadotte.
https://www.newalta.com/views/NewsRelease.asp?compid=113540&releaseID=1339274