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5N Plus completes US$34.5 million IPO

Fasken
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Client

National Bank Financial Inc.

On December 20, 2007, 5N Plus Inc. completed its previously-announced initial public offering for gross proceeds to the Company of $30 million. The Company's common shares commenced trading on the Toronto Stock Exchange under the symbol "VNP". On December 21, 5N Plus announced that it had issued 1,500,000 additional common shares following the exercise in full of an over-allotment option by the underwriters resulting in additional gross proceeds to the Company of $4.5 million. As a result of the exercise in full of the over-allotment option, 5N Plus raised a total of $34.5 million in its initial public offering, by issuing a total of 11,500,000 common shares. The net proceeds from the treasury offering will be used by 5N Plus primarily to: (i) fund the construction of its new 40,000 square-foot manufacturing facility in Eisenhuttenstadt, Germany, intended to increase the Company's annual cadmium telluride production capacity; (ii) fund various capital expenditures at its Montreal facility; and (iii) repay the Company's bank loan and a portion of its long-term debt. The common shares were sold to a syndicate of underwriters led by National Bank Financial Inc. and including GMP Securities L.P., Blackmont Capital Inc., MGI Securities Inc. and Laurentian Bank Securities Inc. The underwriting syndicate was advised by a team from Fasken Martineau that included Jean-Pierre Chamberland, Gabriel Castiglio and Nicolas Morin (securities); Charles Kazaz and Gael Gravenor (environmental); and Thomas Copeland (tax).

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