North American Palladium closes bought deal unit and flow through share offerings for proceeds of $73 million
Client
Underwriters co-led by Thomas Weisel Partners Canada Inc. and Cormark Securities Inc.
Date
October 8, 2009
On October 8, 2009, North American Palladium Ltd. closed its previously announced bought deal private placement of 4,000,000 flow through shares at a price of $3.75 per share for total gross proceeds of $15,000,000.
On September 30, 2009, North American Palladium closed its previously announced cross-border bought deal public offering of 16,000,000 units for total gross proceeds of $50,400,000. The underwriters subsequently exercised an over-allotment option acquire an additional 2,400,000 units at the public offering price for total gross proceeds of $7,560,000.
Total gross proceeds from the unit and flow through share offerings were approximately $73 million.
Thomas Weisel Partners Canada Inc. and Cormark Securities Inc. co-led the underwriting syndicate, which included Dundee Securities Corporation, Haywood Securities Inc. and Octagon Capital Corporation.
The underwriters were advised in both of these transactions by a team from Fasken Martineau that included Alfred Apps, Rob Mason, Geoff Clarke, Amanda Fullerton, Jessica Catton and Louise Kennedy (corporate/securities) and Bill Bies (tax).
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