Stack Capital Group Inc. Completes $15.8 Million Main Tranche of a Total $16.7 Million Best Efforts Financing

Stack Capital Group Inc. Completes $15.8 Million Main Tranche of a Total $16.7 Million Best Efforts Financing

Benzinga
October 30, 2024

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TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc. ("Stack Capital") (TSX:STCK) is pleased to announce that it has closed the main tranche of its previously announced private placement (the "Offering") of up to 1,515,908 units (the "Units") of Stack Capital (including pursuant to the exercise in full of the agents option) for aggregate gross proceeds of up to $16.675 million, priced at $11.00 per Unit. The main tranche consisted of the sale of 1,437,839 Units for gross proceeds of $15,816,229. A second additional tranche has been committed for the balance of the Units that may be issued under the Offering and is expected to close in mid-November 2024. The Offering was conducted on a best efforts basis by a syndicate of agents (the "Agents") bookrun by Raymond James Ltd., Canaccord Genuity Corp., RBC Capital Markets and TD Securities Inc., and includes Scotia Capital Inc., Wellington-Altus Financial Inc. and National Bank Financial Inc., pursuant to the terms and conditions of an agency agreement between Stack Capital, SC Partners Ltd. (the manager of Stack Capital) and the Agents.

Each Unit is comprised of one common share (a "Common Share") and one-half of one common share purchase warrant of Stack Capital (each whole common share purchase warrant, a "Warrant"). Each Warrant is exercisable to acquire one common share of Stack Capital (a "Warrant Share") at any time prior to 4:00 p.m. (Toronto, Ontario time) on October 30, 2027 at an exercise price of $11.00 per Warrant Share, subject to adjustment in certain events. The Warrants are being issued pursuant to a warrant indenture entered into between Stack Capital and Computershare Trust Company of Canada, as warrant agent (the "Warrant Indenture"). A copy of the ...

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