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1BestPickson Mar 29, 2011 9:23am
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Donee Deal !
Donee Deal !
Feronia bookrunners exercise $3.75-million greenshoe
2011-03-29 09:17 ET - News Release
Mr. Ravi Sood reports
FERONIA INC. ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION
Feronia Inc. has received notice from Wellington West Capital Markets Inc., on behalf of itself and Renaissance Capital (Kenya) Ltd., that the joint bookrunners have exercised their overallotment option to acquire an additional 5,775,000 units of the company at a price of 65 cents per overallotment unit for gross proceeds to the company of $3,753,750. The overallotment option was granted to the joint bookrunners in connection with the previously announced offering of 38.5 million units of the company at a price of 65 cents per unit for gross proceeds of $25,025,000. As a result of the exercise of the overallotment option, 44,275,000 units in total are being issued pursuant to the offering for total gross proceeds of $28,778,750.
The sale of the overallotment units will close concurrently with the closing of the offering, which is scheduled to close on or about March 31, 2011.
We seek Safe Harbor.