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store
Joined: 23 Sep 2013
Posts: 5
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 Posted: Mon Sep 23, 2013 1:56 pm Post subject: Boughts |
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Twenty years later, Chuck and Doreen Bilezikian bought the seasonal shop,
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hendershotcarol104
Joined: 24 Sep 2013
Posts: 10
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| Posted: Tue Sep 24, 2013 11:06 am Post subject: |
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After the close on December 2nd, Energold (EGD: Canada) announced that it had entered into a "bought deal" financing with a syndicate of underwriters to raise CAD $15 million. The terms are a unit at $3.70 with a 2 year half warrant at $4.50 that is callable at $5.25. I had no idea that such a financing was imminent and was shocked to hear about it. After having spent a few days thinking it over, I want to talk about what this means for the company. In particular, I want to talk about "bought deal" financings. What is a "bought deal" financing? It is a method of raising capital where the underwriters promise to raise a certain amount of capital for a company on agreed upon terms. If the underwriters are unsuccessful in raising the capital, they are forced to purchase the shares themselves on the agreed upon terms. Naturally, brokers do not enter into these agreements unless they are confident they can find investors for the shares-hence the terms are unnaturally attractive to the purchasers.
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