TransactionsStone Agribusiness Fund Completes $43 Million IPOPublished: 04/14/2008 By Peter A. Dunne, Brian P. Koscak, Christopher B. Norton, David Swain On April 14, 2008, Stone Agribusiness Fund issued an additional 112,111 units for gross proceeds of $1,121,110 pursuant to the exercise by the agents of their over-allotment option. Each unit consisted of one redeemable, transferable trust unit of the Fund and a trust unit purchase warrant. Each warrant entitled the holder to purchase one trust unit at a subscription price of $10.00 on February 26, 2010, as described in the Fund’s prospectus dated February 28, 2008. Including the over-allotment option, total gross proceeds of the Fund’s initial public offering were $43,121,110. Immediately upon closing of the over-allotment option the units separated into trust units and warrants and began trading Monday, April 14, 2008 on the Toronto Stock Exchange under the symbols HAY.UN and HAY.WT, respectively. The offering was made by a syndicate of agents led by National Bank Financial Inc. and CIBC World Markets Inc. and that included BMO Capital Markets, Research Capital Corporation, Scotia Capital Inc., TD Securities Inc., Canaccord Adams, Wellington West Capital Inc., Berkshire Securities Inc., Blackmont Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Burgeonvest Securities Ltd., IPC Securities Corporation and Richardson Partners Financial Ltd. Cassels Brock acted for Stone Agribusiness Fund with a team that included Peter Dunne (Securities), Chris Norton (Tax), Brian Koscak (Securities) and David Swain (Securities). |