Enterprise Group Announces Closing of Previously Announced Bought Deal Financing and Exercise of Over-Allotment Option
Enterprise Group (TSX: E, OTCQB: ETOLF) has successfully closed its previously announced bought deal offering, with underwriters exercising the over-allotment option in full. The company issued 15,131,585 common shares at $1.90 per share, raising total gross proceeds of approximately $28.8 million.
The net proceeds will be used for working capital and general corporate purposes, supporting the company's expansion plans in the natural gas turbine power sector. Directors and officers have entered into 90-day lock-up agreements. The offering was completed through a final short form prospectus in all Canadian provinces except Quebec.
Enterprise Group (TSX: E, OTCQB: ETOLF) ha concluso con successo l'offerta di acquisto precedentemente annunciata, con i sottoscrittori che hanno esercitato completamente l'opzione di sovrallocazione. L'azienda ha emesso 15.131.585 azioni ordinarie a $1,90 per azione, raccogliendo un totale di proventi lordi di circa $28.8 milioni.
I proventi netti saranno utilizzati per il capitale circolante e per scopi aziendali generali, supportando i piani di espansione dell'azienda nel settore della produzione di energia da turbine a gas naturale. I direttori e i funzionari hanno sottoscritto accordi di lock-up di 90 giorni. L'offerta è stata completata tramite un prospetto finale in forma abbreviata in tutte le province canadesi, ad eccezione del Quebec.
Enterprise Group (TSX: E, OTCQB: ETOLF) ha cerrado con éxito su oferta de compra previamente anunciada, con los suscriptores ejerciendo por completo la opción de sobreasignación. La compañía emitió 15.131.585 acciones ordinarias a $1.90 por acción, levantando un total de ingresos brutos de aproximadamente $28.8 millones.
Los ingresos netos se utilizarán para capital de trabajo y propósitos corporativos generales, apoyando los planes de expansión de la compañía en el sector de generación de energía con turbinas a gas natural. Los directores y funcionarios han firmado acuerdos de bloqueo de 90 días. La oferta se completó a través de un prospecto final en forma corta en todas las provincias canadienses, excepto Quebec.
기업 그룹 (TSX: E, OTCQB: ETOLF)은 이전에 발표한 매수 계약을 성공적으로 마감했으며, 인수자들이 전체 초과 배정 옵션을 행사했습니다. 이 회사는 15,131,585주 보통주를 주당 $1.90에 발행하여 약 $28.8 백만의 총 매출을 올렸습니다.
순수익은 운영 자본 및 일반 기업 목적에 사용되며, 회사의 천연 가스 터빈 발전 부문 확장 계획을 지원할 것입니다. 이사와 임원들은 90일 잠금 계약에 서명했습니다. 이 제안은 퀘벡을 제외한 모든 캐나다 주에서 최종 간편 형식의 투자설명서를 통해 완료되었습니다.
Enterprise Group (TSX: E, OTCQB: ETOLF) a réussi à clore son offre de rachat précédemment annoncée, avec les souscripteurs exerçant pleinement l'option de surallocation. La société a émis 15.131.585 actions ordinaires à 1,90 $ par action, levant un produit brut total d'environ 28,8 millions $.
Les produits nets seront utilisés pour le fonds de roulement et des fins corporatives générales, soutenant les plans d'expansion de l'entreprise dans le secteur de la production d'énergie à partir de turbines à gaz naturel. Les administrateurs et les dirigeants ont signé des accords de blocage de 90 jours. L'offre a été complétée par un prospectus final simplifié dans toutes les provinces canadiennes, à l'exception du Québec.
Enterprise Group (TSX: E, OTCQB: ETOLF) hat erfolgreich das zuvor angekündigte Übernahmeangebot abgeschlossen, wobei die Zeichner die Überzeichnungsoption vollständig ausgeübt haben. Das Unternehmen hat 15.131.585 Stammaktien zu $1,90 pro Aktie ausgegeben und dabei einen Gesamterlös von etwa $28,8 Millionen erzielt.
Die Nettomittel werden für Betriebskapital und allgemeine Unternehmenszwecke verwendet und unterstützen die Expansionspläne des Unternehmens im Bereich der Erzeugung von Energie aus Gasturbinen. Direktoren und Führungskräfte haben 90-tägige Lock-up-Vereinbarungen unterzeichnet. Das Angebot wurde über einen endgültigen Kurzprospekt in allen kanadischen Provinzen, mit Ausnahme von Quebec, abgeschlossen.
- Successful raise of $28.8 million through bought deal financing
- Full exercise of over-allotment option indicating strong demand
- 90-day lock-up agreement from directors and officers showing confidence
- Strong pipeline of projects supporting future expansion
- Potential dilution for existing shareholders due to new share issuance
St. Albert, Alberta--(Newsfile Corp. - December 12, 2024) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the "Company" or "Enterprise Group"), a consolidator of services to the energy sector that is focused primarily on specialized equipment rental, is pleased to announce it has closed its previously announced bought deal offering pursuant to a press release dated November 27, 2024. The Underwriters (as defined below) elected to exercise the over-allotment option in full, resulting in an aggregate of 15,131,585 common shares of the Company (the "Common Shares") being issued at a price of
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes. This funding initiative will support the Company's continued expansion plans, as it seeks to capitalize on the robust growth opportunities in the burgeoning natural gas turbine power sector, while reinforcing its position as the leading player in the space. With robust activity fuelling the current quarter and a strong pipeline of projects supporting future expansion, the Company believes it is well-positioned to continue delivering strong results going forward underscoring its commitment to creating shareholder value while driving sustained, long-term growth. The underwriting syndicate was co-led by Canaccord Genuity Corp. and Raymond James Ltd. and included Acumen Capital Finance Partners Limited (collectively, the "Underwriters").
In connection with the Offering, the directors and officers of the Company entered into lock-up agreements pursuant to which they agreed not to sell or transfer any Common Shares for a period of 90 days from closing of the Offering. The Offering was completed in Canada by way of a final short form prospectus dated December 5, 2024 and filed with the securities regulatory authorities in each of the provinces of Canada, other than Québec, copies of which are available under the Company's profile on the System for Electronic Data Analysis and Retrieval + ("SEDAR+") at www.sedarplus.ca.
This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in the U.S. Securities Act), absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Enterprise Group, Inc.
Enterprise Group, Inc is a consolidator of services including specialized equipment rental to the energy/resource sector. The Company works with particular emphasis on systems and technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada.
More information is available at the Company's website www.enterprisegrp.ca. Corporate filings can be found on www.sedarplus.ca.
For questions or additional information, please contact:
Leonard Jaroszuk, Chairman & CEO, or
Desmond O'Kell, President & Director
780-418-4400
contact@enterprisegrp.ca
Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements in this news release including, without limitation, the anticipated use of proceeds and opportunities available to the Company. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR+ website www.sedarplus.ca) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233504
FAQ
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