TransactionsBennett Environmental Inc. Completes $25 Million Bought Deal OfferingPublished: 06/11/2010 By Joan Beck, Marlin Horst, Christopher B. Norton, Heather Zordel On May 7, 2010, Bennett Environmental Inc. completed a bought deal financing with a syndicate of underwriters led by Jennings Capital Inc. and including Cormark Securities Inc. Under the amended terms of the financing announced on April 15, 2010, Bennett issued a total of 8,196,722 units, each unit consisting of one common share and one-half of one common share purchase warrant, at a price of $3.05 per Unit. On May 21, 2010, the underwriters exercised part of their overallotment option by purchasing an additional 614,754 warrants. The gross proceeds of offering including the partial exercise of the overallotment option was $25,135,247.98. Each whole common share purchase warrant entitles the holder to purchase one common share of Bennett at a price of $3.75 until 5:00 p.m. on May 7, 2012. The warrants are listed on the Toronto Stock Exchange. Cassels Brock acted for Bennett Environmental Inc. with a team that included Marlin Horst (Corporate), Heather Zordel (Securities), Joan Beck (Securities) and Chris Norton (Tax). |