Ceragon Networks Ltd. Prices Underwritten Public Offering of Ordinary Shares
Ceragon Networks Ltd. (CRNT), today announced the pricing of an underwritten public offering of 14,000,000 of its ordinary shares at a price of $2.40 per share. The company has also granted to the underwriters a 30-day option to acquire an additional 1,600,000 shares to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $31.4 million, assuming no exercise of the overallotment option. The offering is expected to close on November 26, 2013, subject to customary closing conditions.
Needham & Company is acting as lead book-running manager of the offering. Oppenheimer & Co. is acting as co-book runner.
Cardiovascular Systems Prices Public Offering of Common Stock
Cardiovascular Systems, Inc. (CSI) (CSII), a medical device company focused on developing and commercializing innovative interventional treatment systems for vascular disease, today announced the pricing of an underwritten public offering of 2,608,696 shares of its common stock, at a price to the public of $30.00 per share. The net proceeds to CSI from the sale of the shares, after deducting underwriting discounts and commissions and estimated expenses, are expected to be approximately $73.4 million. All of the shares in the offering are to be sold by CSI. The offering is expected to close on or about November 26, 2013.
In connection with the offering, CSI has also granted the underwriters a 30-day option to purchase up to an additional 391,304 shares.
InterCloud Systems, Inc. Announces Full Exercise of Underwriter's Over-Allotment Option
InterCloud Systems, Inc. (ICLD) announced the full exercise of the over-allotment option granted to the underwriters to purchase an additional 187,500 shares of common stock at a public offering price of $4.00 per share, bringing the expected total gross proceeds from the offering to approximately $5.75 million, before underwriting discounts and commissions and other offering expenses payable by InterCloud.
Aegis Capital Corp. acted as the sole book-running manager for the offering.
Petroforte to Complete Private Placement for Up to $15 Million
(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)
Petroforte International Ltd. ("Petroforte" or the "Corporation") (TSX VENTURE:PFI) reports that it has agreed to terms for a non-brokered private placement ("the Offering") of up to 75,000,000 common shares at $0.20 per share for gross proceeds of up to $15,000,000. The Corporation has engaged certain financial institutions as financial advisors ("the Advisory Group") in connection with the Offering. The Corporation has agreed to pay the Advisory Group cash fees of 7% of the gross proceeds of the Offering in accordance with the policies of the TSX Venture Exchange.
Asanko's Esaase Gold Project Fully Funded With $150m Debt Facility
Highlights: - Definitive Loan Agreement signed with Red Kite for secured debt facility of up to $150 million - Combined with the current cash on-hand of $185 million , Esaase Gold Project fully financed - No hedging, cash sweep or limitations on the Company's growth strategy - Definitive Feasibility Study and permitting remain on track for completion during Q4 2013 - Front End Engineering and Design program to commence immediately - Steady state production of 200,000 ounces per year targeted by Q4 2015
Asanko Gold Inc. ("Asanko" or the "Company") (AKG.TO)(NYSE MKT:AKG) is pleased to announce it has entered into a Definitive Senior Facilities Agreement (the "Agreement") with a special purpose vehicle of Red Kite Mine Finance Trust I ("Red Kite") to provide a secured project debt facility for a total of $150 million (all figures United States dollars).
Cequence Energy Inc. announces investment by CPPIB Credit Investments Inc., and provides operational update and revised guidance
/NOT FOR DISTRIBUTION TO ANY U.S. NEWSWIRE OR DISSEMINATION IN THE UNITED STATES/
CALGARY, Oct. 3, 2013 /CNW/ - Cequence Energy Inc. ("Cequence" or the "Company") (TSX:CQE.TO ) is pleased to announce that it has entered into definitive documentation and expects to complete later today a transaction (the "Transaction") with CPPIB Credit Investments Inc., ("CII"), a wholly-owned subsidiary of Canada Pension Plan Investment Board ("CPPIB"), for an initial investment by CII of $60 million in unsecured five year notes (the "Notes") with a further $60 million of notes available at a future date, subject to the approval of both CII and Cequence on terms to be confirmed at the time of issuance. In addition, Cequence has granted CII 3.0 million warrants to purchase common shares (the "Warrants"). The investment will allow Cequence to capitalize on its recent successes at Simonette and accelerate the development of this project.
GoGold Closes US$35,000,000 Financing With Orion Mine Finance
GoGold Resources Inc. ( TSX:GGD.TO ) ("GoGold") is pleased to announce the closing of the US$35 million equity and debt financing with Orion Mine Finance, the details of which were previously announced in news releases dated July 12, 2013 and September 18, 2013.
On closing, the credit agreement and the off-take agreement both became effective. Orion Mine Finance has funded the first tranche under the credit agreement in the amount of US$15 million and has also acquired 4,693,563 common shares of GoGold ("Common Shares") and 2,000,000 Common Share purchase warrants on the terms previously announced.
Sichuan Chemical Issues $20 Million Strategic Investment Letter of Intent to Prospect Global Resources
Sichuan looking to expand relationship with PGRX
Sichuan Chemical Industry Holding (Group) Co., Ltd. (“Sichuan”) has issued Prospect Global Resources Inc. (“Company” or “Prospect”) a Letter of Intent indicating interest in up to a $20 million strategic investment in Prospect to further the development of the Company’s Holbrook Project. Prospect and Sichuan Chemical entered into a potash supply agreement in 2012.
Xiaojun Chen, Chairman of Sichuan Chemical’s Board of Directors, stated, “Sichuan has been looking for ways to deepen its cooperation with PGRX. We look forward to working with PGRX in order to bring its Holbrook Basic project to completion and Sichuan will continue to pursue additional avenues of cooperation going forward.”
US Oil Sands Inc. Announces $80 Million Strategic Financing
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
US Oil Sands Inc. ("US Oil Sands" or the "Company") (TSXV:USO.V - News), a company focused on oil sands exploration and production in the State of Utah, today announced the signing of a letter of intent (the "Letter of Intent") with Blue Pacific Investments Group Ltd., Anchorage Capital Group, L.L.C. and Spitfire Ventures, LLC (the "Strategic Investors"). Under the terms of the Letter of Intent, US Oil Sands will issue up to $80 million of common shares of the Company at an issue price of $0.15 per common share in a private placement financing (the "Offering"). The issue price represents a 49% premium to the 20 day volume weighted average trading price of the Company's common shares.
Stereotaxis Announces Renewal of Silicon Valley Bank Credit Facility
Stereotaxis, Inc. (STXS) announced today that it has completed the renewal of its revolving credit facility with Silicon Valley Bank (SVB).
Under an amended credit agreement, Stereotaxis will extend its $3 million asset based revolving line of credit with SVB through March 31, 2014. The amended credit agreement eliminates the $3 million of available advances guaranteed by Alafi Capital Company and an affiliate of Sanderling Venture Partners, and the guarantees have been terminated. Furthermore, the prepayment premium on its term note was eliminated from the agreement, allowing the Company to repay the outstanding amount under this facility prior to its maturity date of December 2013, without penalty.
Stellar Biotechnologies, Inc. Announces US $12,000,000 Private Placement
Stellar Biotechnologies, Inc. ("Stellar" or "the Company") (OTCQB: SBOTF) (TSX VENTURE: KLH) announces its intent to close a private placement of up to 11,428,572 units (the "Units") to raise gross proceeds of up to US$12,000,000 (the "Private Placement"). Each Unit will have a purchase price of US$1.05 and will consist of one common share in the capital of the Company and one-half of a transferable share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share in the capital of the Company at a purchase price of US$1.35 for a period three years from the date of issuance of the Warrants.
Eltek Secures a $4.2 Million Investment from Nistec Ltd.
- Eltek will sell 3,532,655 ordinary shares to Nistec for $4.2 million - Nistec will also purchase all of the shares held by Eltek's majority holder, Mr. Yossi Maiman, and Nistec will become Eltek's majority shareholder (50.5%)
Eltek Ltd., (ELTK), the leading Israeli manufacturer of advanced Flex-Rigid circuitry solutions, announced today that it has entered into a $4.2 million investment agreement with Nistec Ltd. ("Nistec"), a leading provider of Electronic Manufacturing Services ("EMS") and design services, to sell Nistec 3,532,655 ordinary shares at $1.19 per share.
Nistec will also acquire all of the holdings of Eltek's major shareholder, Mr. Yossi Maiman (24.1%), for $2.3 million, or $1.45 per share. Upon completion of the transactions, Nistec will hold the majority of Eltek's issued share capital (50.5%).
Transition Therapeutics Enters Into a Private Placement with Investors to Receive up to US$21.7 Million in Equity Financing
Company to Receive Upfront US$11 Million Upon Closing
Transition Therapeutics Inc. ("Transition" or the "Company") (NASDAQ: TTHI, TSX: TTH) announced that Jack W. Schuler, Larry N. Feinberg, Oracle Investment Management, certain Transition Board members, management and other existing shareholders will make an investment of up to US$21 million by purchasing 2,625,298 units of the Company at a price of US$4.19 per common share.
Each unit consists of (i) one common share, (ii) 0.325 Common Share purchase warrant with a purchase price of US$4.60 per whole warrant and (iii) 0.4 Common Share purchase warrant with a purchase price of US$6.50 per whole warrant.
Eagle Hill Consolidates 100% of the Windfall Lake Gold Deposit and Arranges $12 Million Private Placement
06/28/13 -- Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the "Company") is pleased to announce that it has entered into a binding letter agreement ("Noront Transaction") to acquire the remaining 25% ownership along with all other interests in the mineral claims of the Windfall Lake Property from Noront Resources Ltd. ("Noront"). Further, the Company has entered into financing agreements with Southern Arc Minerals Inc. ("Southern Arc") and Dundee Corporation ("Dundee") to provide a total of $12 million through two private placements of units (together with the Noront Transaction, the "Transactions").
Hanwha SolarOne's Subsidiary Obtains Three-Year US$100 Million Term-Loan Facility
Hanwha SolarOne Co., Ltd. ("SolarOne" or the "Company") (HSOL), a vertically integrated manufacturer of silicon ingots, wafers, and photovoltaic ("PV") cells and modules in China, today announced that its wholly-owned subsidiary Hanwha SolarOne (Qidong) Co., Ltd., has secured a three-year US$100 million term loan facility (the "Loan") from the Export-Import Bank of Korea (KEXIM). The loan will mature on June 25, 2016 with payment of principal to be made at maturity. The interest rate floats with the three-month LIBOR, plus 1.99 % per annum. The loan proceeds will be used primarily for working capital purposes.
Synergy Resources Corporation Announces Pricing of Upsized Public Offering of Common Stock
Synergy Resources Corporation (NYSE MKT: SYRG) ("Synergy" or the "Company") announced today that it has priced an upsized underwritten public offering of 11,500,000 shares of the Company's common stock at $6.25 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of common stock. The Company intends to use the net proceeds from this offering, along with cash on hand, to fund a portion of its 18-month drilling and development budget and additional leasehold acquisition in the Wattenberg Field. Any remaining net proceeds will be used for corporate purposes, including working capital. The offering is expected to settle on June 19, 2013 subject to the satisfaction of customary closing conditions.
PetroFrontier Corp. announces Statoil to fully fund a US$50 million 2013/2014 exploration program in the Southern Georgina Basin
PetroFrontier Corp. ("PetroFrontier") is pleased to announce that it has agreed to amend the existing farmin agreement with Statoil Australia Oil & Gas AS ("Statoil") whereby Statoil has committed to spend the next US$50 million throughout the remainder of 2013 and 2014 to fully fund up to a 385 km 2D seismic program and the drilling and stimulation of four to six vertical test wells (the "Amended Farmin Agreement").
SolarCity and Goldman Sachs Create Largest U.S. Rooftop Solar Lease Financing Platform
Collaboration Expected to Fund more than $500 Million in Solar Projects, 110 Megawatts of Solar Capacity
SolarCity (SCTY), a leading provider of clean energy, today announced a lease financing agreement with Goldman Sachs (GS) to fund more than $500 million in solar power projects; an estimated 110 megawatts in generation capacity for homeowners and businesses.
The financing makes it possible for homeowners, businesses, government and other non-profit organizations to install solar panels with no upfront cost and pay less for clean, solar electricity than they currently pay for utility bills. The agreement was initiated in 2012 and expanded per its initial terms at the end of April.
Allied Nevada Announces US$150.5 Million Bought Deal Financing
Allied Nevada Gold Corp. ("Allied Nevada", "we", "us", "our" or the "Company") (TSX:ANV)(NYSE Amex:ANV)(NYSE MKT:ANV) announces that the Company has entered into an agreement with a syndicate of underwriters, led by Dundee Securities Ltd. and including Cormark Securities Inc. (collectively, the "Underwriters"), which have agreed to purchase, on a bought deal equity financing basis, 14,000,000 shares of common stock of the Company (the "Shares") at a price of US$10.75 per Share, for aggregate gross proceeds to the Company of US$150,500,000. The Underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 2,100,000 Shares at a price of US$10.75 per share to cover over-allotments. In the event that the over-allotment option is exercised in its entirety, the aggregate gross proceeds of the offering to the Company will be US$173,075,000.
Cline Mining announces entering into recapitalization agreement
Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) announced today that it has entered into the definitive recapitalization agreement (the "Recapitalization Agreement") with Marret Asset Management Inc., as agent for the bondholders and standby purchasers party thereto. The transactions contemplated by the Recapitalization Agreement were disclosed by the Company on December 27, 2012. Pursuant to the Recapitalization Agreement, the Company has filed a preliminary short form prospectus dated April 25, 2013 (the "Preliminary Prospectus") with respect to the rights offering and issuance of warrants to its shareholders, as described in greater detail in the Preliminary Prospectus.