Gear announced the closing of a $28.5 mm financing, comprised of the issuance of ~14.7 mm common shares at $0.75/sh for ~$11.0 mm and $14.8 mm in convertible debentures paying 4.0% coupon and convertible at $0.87/sh, maturing November 2020. Insider take-up on the deal was ~$1.0 mm which is a positive endorsement of the forward outlook for Gear.
01 Dec 2015
Gear Closes $25.8 mm Financing, Reports Third Quarter Results
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Gear Closes $25.8 mm Financing, Reports Third Quarter Results
Gear Energy Ltd. (GXE:TSE) | 0 0 0.0% | Mkt Cap: 154.0m
- Published:
01 Dec 2015 -
Author:
Robert Fitzmartyn -
Pages:
7
Gear announced the closing of a $28.5 mm financing, comprised of the issuance of ~14.7 mm common shares at $0.75/sh for ~$11.0 mm and $14.8 mm in convertible debentures paying 4.0% coupon and convertible at $0.87/sh, maturing November 2020. Insider take-up on the deal was ~$1.0 mm which is a positive endorsement of the forward outlook for Gear.