Skip to main content

PLEASE NOTE: For everyone’s safety, Fasken recommends anyone on-site at our Canadian offices be familiar with the COVID-19 recommendations in place which may include one or more of the following: social distancing, hand sanitizing, wearing a mask in common areas and proof of full vaccination. These measures apply to lawyers, staff, clients, service providers and other visitors.

Client Work

Bennett Environmental completes US$25 million bought deal offering

Fasken
Reading Time 1 minute read Subscribe

Overview

Client

Jennings Capital

On May 7, 2010, Bennett Environmental Inc. (TSX: BEV) announced that it had completed its previously announced bought deal financing, with a syndicate of underwriters led by Jennings Capital Inc. and including Cormark Securities Inc. Under the amended terms of the financing announced on April 15, 2010, Bennett issued a total of 8,196,722 units for gross proceeds of $25 million. Each whole common share purchase warrant entitles the holder to purchase one common share of Bennett at a price of $3.75 until 5:00 p.m. on May 7, 2012. Bennett has applied to list the warrants on the Toronto Stock Exchange, subject to compliance with regulatory requirements. The underwriters have been granted an over-allotment option to purchase up to an additional 1,229,508 Units, exercisable at any time, in whole or in part, up to 30 days from the closing of the offering. The underwriters were advised by Fasken Martineau with a team that included Rob Mason, Amanda Fullerton, Michael Shour and Laura Fetter (corporate/securities), Mitchell Thaw (tax), assisted by student-at-law Sébastien Kwidzinski.

Team

    Subscribe

    Receive email updates from our team

    Subscribe