Pacific Rubiales Energy Corp. has announced that, in connection with the proposed public offering of
The debentures will expire five years and one day from the date of issuance and will be convertible into common shares of the company at $13.00 per share.
The company has granted to the underwriters an option, exercisable in whole or in part for a period of 30 days following the closing of the issuance, to purchase up to an additional $20 million principal amount of debentures at the same offering price, to cover over-allotments, if any, and for market stabilization purposes.
Pacific Rubiales plans to use the net proceeds of the offering to pay for the previously announced acquisition of Kappa Energy Holdings Ltd. Any excess funds will be used for the general working capital requirements of the
A preliminary short-form prospectus for the issuance was previously filed with all provinces of Canada, other than Quebec. A (final) short-form prospectus is expected to be filed with each of the securities commissions as
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent
Most Popular Articles