Tidewater issued 50,000,000 common shares plus an over-allotment of 7,500,000 common shares for a price of $1.40/share, to raise a total of $80.5 mm in gross proceeds. The deal closed on March 22, 2016. Tidewater intends to use the funds raised to repay debt associated with its previously announced $87 mm acquisition of AltaGas’s interest in certain Deep Basin and central Alberta infrastructure assets. The deal frees up debt room to take on potential future acquisitions. AltaGas Ltd. has propose ....
24 Mar 2016
Closes Financing of $80.5 mm Including Upsize and Over-Allotment
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Closes Financing of $80.5 mm Including Upsize and Over-Allotment
Tidewater Midstream & Infrastructure Ltd. (TWM:TSE) | 0 0 5.3% | Mkt Cap: 457.2m
- Published:
24 Mar 2016 -
Author:
Steven I. Paget -
Pages:
4
Tidewater issued 50,000,000 common shares plus an over-allotment of 7,500,000 common shares for a price of $1.40/share, to raise a total of $80.5 mm in gross proceeds. The deal closed on March 22, 2016. Tidewater intends to use the funds raised to repay debt associated with its previously announced $87 mm acquisition of AltaGas’s interest in certain Deep Basin and central Alberta infrastructure assets. The deal frees up debt room to take on potential future acquisitions. AltaGas Ltd. has propose ....