pcNewsWire – CALGARY, Alberta, June 07, 2017 – Delphi Energy Corp. has closed its previously announced financing comprised of the sale of (i) 27,559,055 common shares issued at a price of $1.27 per common share; and (ii) 30,000 senior secured Collateralized Exchange Listed™ (“CEL”) Notes, each with a principal amount of $1,000 and a 10% coupon, for gross proceeds of approximately $65.3 million.
A syndicate of agents, led by Raymond James Ltd. and co-led by AltaCorp Capital Inc., sold the common shares and Raymond James, as sole agent, sold the CEL Notes, all on a private placement basis.
The common shares and CELTM Notes issued are subject to a statutory hold period of four months plus one day from the date of closing, in accordance with applicable securities legislation. The majority of the financing was subscribed for by a single US-based institutional investor.
