Secure has closed a bought deal financing for $150 mm (19.5 mm shares), which will initially be used to reduce indebtedness, but we expect will ultimately be used to execute acquisitions. Based on our estimates, SECURE’s balance sheet could easily absorb an acquisition of $50 mm of EBITDAS at anywhere from 4.0x to 6.0x EV/EBITDAS using a 75/25 (cash/equity) structure. This would put potential acquisition amounts at $200 mm to $300 mm. The above assumptions applied to our current 2017e would lead ....
22 Mar 2016
Closes Bought Deal Financing Totaling $150 mm Including Over-Allotment
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Closes Bought Deal Financing Totaling $150 mm Including Over-Allotment
Secure Energy Services Inc. (SES:TSE) | 0 0 (-1.3%) | Mkt Cap: 1,294m
- Published:
22 Mar 2016 -
Author:
Ian B. Gillies -
Pages:
7
Secure has closed a bought deal financing for $150 mm (19.5 mm shares), which will initially be used to reduce indebtedness, but we expect will ultimately be used to execute acquisitions. Based on our estimates, SECURE’s balance sheet could easily absorb an acquisition of $50 mm of EBITDAS at anywhere from 4.0x to 6.0x EV/EBITDAS using a 75/25 (cash/equity) structure. This would put potential acquisition amounts at $200 mm to $300 mm. The above assumptions applied to our current 2017e would lead ....