 |
| PIPEs Deal Volume
|
| |
Current Year |
Previous Year |
| Year to Date:
|
|
|
$21.391 billion
in 88 deals
|
$1.739 billion in
124 deals
|
| Quarter to Date:
|
|
|
$21.391 billion
in 88 deals
|
$1.739 billion in
124 deals
|
| Month to Date:
|
|
|
$0.432 billion
in 14 deals
|
$0.288 billion in
23 deals
|
| Week to Date:
|
|
|
$0.396 billion
in 12 deals
|
|
| CANADIAN DEALS
|
| Year to Date:
|
|
|
C$2.582 billion
in 109 deals
|
C$1.778 billion in
157 deals
|
| Quarter to Date:
|
|
|
C$2.582 billion in 109 deals
|
C$1.778 billionin in 157 deals
|
| Month to Date:
|
|
|
C$0.293 billion in 29 deals
|
C$0.420 billion in 38 deals
|
| Week to Date:
|
|
|
C$0.275 billion in 24 deals
|
|
| DIRECT PLACEMENTS
|
| Year to Date:
|
|
|
$0.005 billion
in 1 deals
|
$0.107 billion in
7 deals
|
| Quarter to Date:
|
|
|
$0.005 billion
in 1 deals
|
$0.107 billion in
7 deals
|
| Month to Date:
|
|
|
$0.000 billion
in 0 deals
|
$0.056 billion in
5 deals
|
| Week to Date:
|
|
|
$0.000 billion
in 0 deals
|
|
|
| Prospect News
|
© Copyright 2008 by Prospect News Inc. Electronic redistribution, photocopying and any other electronic or mechanical reproduction is strictly prohibited without prior written approval by Prospect News. Information contained herein is provided by sources believed to be accurate and reliable, however, Prospect News makes no warranty, and each such source makes no warranty, either express or implied, as to any matter whatsoever, including but not limited to those of merchantability or fitness for a particular purpose.
|
|
|
Noront reveals investors;
TerreStar in $300 million deal;
Stereotaxis receives loan;
American Tech defaults
|
|
By Kenneth Lim
Boston, Feb. 7 – Canadian metal miner
Noront Resources Ltd. on Thursday
unveiled the list of investors that are injecting
C$26 million into its coffers, a list
that includes fund managers and industry
players.
Meanwhile, TerreStar Networks
Inc. announced a massive $300 million
investment led by EchoStar Corp.,
Harbinger Capital Partners Master Fund
I and Harbinger Capital Partners Special
Situations Fund LP.
Stereotaxis Inc. also got a $20 million
loan commitment from two of its shareholders,
which gave its common stock a slight
boost after the medical device maker’s
recent lackluster forecasts.
American Technologies Group Inc.,
however, needs to secure the support of
Laurus Master Fund Ltd.
|
|
which has notified the company that it is in default under its secured convertible term B note in the
amount of $2 million, bringing to $13.58
million the total that Laurus is claiming
from American Technologies.
Noront closes placement
Toronto-based Noront said Thursday
that it has closed a private placement of 6.5
million security units for C$26 million.
The units, which were sold at C$4
apiece and comprise one common share and
one-half of one common share purchase
warrant bearing a strike price of C$5 and an
two-year maturity, were sold to six investors.
The investors consist of investment
companies Rosseau Asset Management,
Pinetree Capital Ltd., Sprott Asset
Management and Northfield Capital Corp.,
as well as mining players Robert McEwen
of Evanachan Ltd. and U.S. Gold Corp. and
Continued on page 3
|
|
|
|
New Issue:
TerreStar secures $300 million from sale of exchangeable notes
|
By Devika Patel
Knoxville, Tenn., Feb. 7 – TerreStar
Corp. has negotiated a $300 million private
placement of exchangeable notes. The
company received $200 million at closing
Thursday and will receive the balance for
funding the TerreStar-2 satellite.
The notes are convertible into common
|
|
shares at $5.57 per share.
EchoStar Corp., Harbinger Capital
Partners Master Fund I, Ltd. and Harbinger
Capital Partners Special Situations Fund LP
and other investors bought the notes.
TerreStar, formerly Motient Corp., is a
Lincolnshire, Ill., mobile satellite services
company.
Continued on page 2
|
|
|
|
|
|
|
|
|
|
What to Watch: Week Ahead
|
February 8
- 10 a.m. ET: Wholesale inventories, December (Census
Bureau)
February 11
- Treasury to auction $24 billion 13-week bills and $22
billion 26-week bills
February 12
- Treasury to auction 4-week bills
February 13
- 8:30 a.m. ET: Retail sales, January (Census Bureau)
-
- 10 a.m. ET: Business inventories, January (Census
Bureau)
- Treasury to auction $19 billion 63-day cash management
bills
|
|
February 14
- 8:30 a.m. ET: Initial claims (Department of Labor)
- 8:30 a.m. ET: U.S. international trade, December (Bureau
of Economic Analysis)
- 10 a.m. ET: Metro home prices/State resales, Q4
(National Association of Realtors)
February 15
- 9:15 a.m. ET: Industrial production (Federal Reserve)
- Securities Industry and Financial Markets Association
recommends early close
February 18
- Securities Industry and Financial Markets Association
|
|
|
|
|
|
|
New Issue:TerreStar secures $300 million from sale of exchangeable notes
|
|
|
|
Continued from page 1
|
|
Issuer:
|
TerreStar Corp.
|
Warrants:
|
No
|
|
Issue:
|
Exchangeable notes, exchangeable into common shares
|
Investors:
|
EchoStar Corp. ($50 million),
Harbinger Capital Partners Master
Fund I, Ltd. and Harbinger Capital
Partners Special Situations Fund LP
($50 million)
|
|
Amount:
|
$300 million
|
Settlement date:
|
Feb. 7
|
|
Price:
|
Par
|
Stock symbol:
|
Nasdaq: TSTR
|
|
Conversion price:
|
$5.57
|
Stock price:
|
$4.52 at close Feb. 7
|
|
|
|
|
Friday February 8, 2008
|
Page 2
|
|
|
|
|
|
Noront reveals investors; TerreStar in $300 million deal; Stereotaxis receives loan; American Tech defaults
|
|
|
Continued from page 1
Pierre Lassonde of Franco-Nevada Corp.
IBK Capital Corp was the agent for
the deal and JP Morgan was the financial
advisor for Noront.
Noront stock (TSX: NOT) closed
at C$4.37 on Thursday, up by C$0.14 or
3.31%.
“This financing will provide Noront
with the financial strength to develop its
assets independent of near-term market
fluctuations,” Noront president Richard
Nemis said in a press release.
In a research note written for
Wasserman Morris shortly after the financing
deal was announced, Montecito Capital
Management managing partner Kipley J.
Lytel highlighted that recent surveys suggested
that Noront was sitting on property
with “immense potential.”
“We believe the catalyst for further
share price appreciation will be based on
the release of results
from additional drill holes, which will
likely extend the zone of mineralization
to depth,” Lytel wrote in the notes. “One
also cannot discount the possibility that the
company could be a take-over target of an
integrated base mineral mining company.”
Lytel, who has a speculative buy
recommendation on the stock, told Prospect
News in a separate interview that he does
not foresee a buyout by a private equity
group or an asset management firm, but
rather a transaction with a mining major
after the resource potential is firmed.
“Noront is not geared to move from
exploration to commercial production,” he
said. “There are several majors operating
in the Double Eagle region. Also, Noront
is sitting on many other high priority geophysical
targets.”
Lytel expects that the current financing
will last Noront for the year.
“Even with the two new drills, we view
Noront’s approximately $45-50 million in
cash resources sufficient to meet exploration
& resource calculation objectives for
calendar year 2008,” he said. “They will
also likely establish further shared funding
|
|
arrangements similar to the recently
announced option with Intrinsic Minerals.”
TerreStar gets $200 million
injection
TerreStar said Thursday that it has
sold $300 million of exchangeable notes
to a consortium of investors that include
communications provider EchoStar and two
Harbinger funds.
Lincolnshire, Ill.-based TerreStar, the
mobile satellite services company formerly
known as Motient Corp., and its subsidiary,
TerreStar Networks Inc., received $200
million at closing Thursday and will receive
the balance for funding its TerreStar-2 satellite.
The notes are convertible into common
shares at $5.57 per share. TerreStar stock
(Nasdaq: TSTR) rose 4.63% or 20 cents to
end at $4.52 on Thursday.
The investment requires shareholder
and government approval.
The deal will also expand TerreStar’s
board to eight members, with EchoStar and
Harbinger each contributing two members.
“These strategic investments will
help drive long-term shareholder value
and ensure that TerreStar has access to the
requisite capital to achieve its operational
launch by the end of 2008,” TerreStar chief
executive Robert H. Brumley said in a
company statement.
“Also, the enhanced nationwide spectrum
footprint can help TerreStar accomplish
its mission to offer reliable, interoperable
satellite-terrestrial communications
and next-generation applications for the
commercial, government, rural and public
safety sectors throughout North America.”
“We are gratified that Harbinger and
our other investors have strengthened their
ongoing commitment to the company – and
we are excited that EchoStar has become
a strategic partner,” added Brumley.
“Additionally, we look forward to working
with EchoStar to identify new and exciting
business opportunities between the two companies.”
|
|
Stereotaxis receives $20
million loan
St. Louis-based Stereotaxis said it had
secured $20 million in loan commitments
from two of its shareholders, but did not
identify them.
The one-year unsecured loans will be
subordinated to existing bank debt, and the
maker of heart devices has an option to
extend the loan’s tenor by 90 days.
Stereotaxis also agreed to issue warrants
to the investors, equal to 20% of the
loan amount, exercisable at $6.99 per share.
Additional warrants equal to 5% of the
funds drawn will be issued if the company
exercises its 90-day extension.
Stereotaxis common stock (Nasdaq:
STXS) closed Thursday at $6.79, up by
0.74% or five cents.
“At year end 2007, the company had
approximately $24 million of cash and
investments, including $5 million drawn
on its working capital facility,” Stereotaxis
chief executive Bevil Hogg said in a statement.
“Combined with and subject to the
terms of the remaining undrawn facility,
this commitment provides Stereotaxis with
up to approximately $60 million of liquidity,
which we believe is sufficient to execute
our growth strategy well into 2009.”
American Technologies in
default
American Technologies said it has
been notified that hit is in default on its $2
million secured convertible term B note by
noteholder Laurus Master Fund Ltd.
The company said it received the
notice on Jan. 31. Laurus is demanding
$13,580,810 in principal, interest and
default fees and demanded immediate
payment by Feb. 1.
Since the company did not pay that
amount, it said in the filing that Laurus may
exercise its rights to take possession of the
Continued on page 4
|
|
|
|
|
Friday February 8, 2008
|
Page 3
|
|
|
|
|
|
|
New Issue:
ForgeHouse sells $2.1 million of convertible preferreds
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– ForgeHouse, Inc. completed a $2.1
million private placement of convertible
preferred stock, according to an 8-K filed
Thursday with the Securities and Exchange
Commission.
|
|
The deal consisted of 2 million class A
convertible preferred shares sold at $1.05
apiece. Investors also received 2 million
warrants, exercisable at $1.00 until Jan.
31, 2010.
|
|
Proceeds will be used to repay debt,
for acquisitions, to fund interest payments
on loans and for operating capital.
ForgeHouse is an enterprise application
software solutions and services
company.
|
|
|
|
|
Issuer:
|
ForgeHouse, Inc.
|
Warrant expiration:
|
Jan. 31, 2010
|
|
Issue:
|
Class A convertible preferred stock
|
Warrant strike price:
|
$1.00
|
|
Amount:
|
$2.1 million
|
Investor:
|
Pfizer Inc.
|
|
Shares:
|
2 million
|
Announcement date:
|
Feb. 7
|
|
Price:
|
$1.05
|
Stock symbol:
|
OTCBB: FOHE
|
|
Warrants:
|
2 million
|
Stock price:
|
$1.60 at close Feb. 6
|
|
|
|
New Issue:
BioLargo secures $1 million from sale of convertible promissory notes
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– BioLargo,Inc. has negotiated a $1 million private placement of convertible promissory notes.
The notes mature June 30, 2009 and
|
|
carry a coupon of 10%. They are mandatorily
convertible into common shares upon
maturity or under certain circumstances at
the company’s option.
Proceeds will be used for research and
development, sales and marketing,
|
|
general and administrative expenses and working
capital.Irvine, Calif.-based BioLargo researches and develops the BioLargo technology, which harnesses and delivers iodine on demand.
|
|
|
|
|
Issuer:
|
BioLargo, Inc.
|
Coupon:
|
10%
|
|
Issue:
|
Convertible promissory notes, mandatorily convertible into common shares
upon maturity
|
Warrants:
|
No
|
|
Amount:
|
$1 million
|
Settlement date:
|
Feb. 7.
|
|
Maturity:
|
June 30, 2009
|
Stock symbol:
|
OTCBB: BLGO
|
|
Stock price:
|
$1.88 at close Feb. 6
|
|
|
|
|
|
| Noront reveals investors; TerreStar in $300 million deal; Stereotaxis receives loan; American Tech defaults
|
|
|
| Continued from page 3
|
note’s collateral in the form of subsidiary stock, goods, inventory
and other property, as allowed under the pledge agreement.
But the company said it is negotiating with Laurus to settle the
amount owed and it expects a deal in March.
“Although we are hopeful that these negotiations will result in
an agreement that is beneficial to the company, we have no commitments
|
|
or assurances that we will be successful or that Laurus
will not pursue any or all of the remedies available to it in light of
our default,” the company said in an 8-K filing with the SEC.
Based in Monrovia, Calif., American Technologies Group is a
technology company focused on the automobile after-market and
water purification sectors.
|
|
|
|
|
Friday February 8, 2008
|
Page 4
|
|
|
|
|
|
|
New Issue:
Stereotaxis gets $20 million from loans
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Stereotaxis, Inc. said it has negotiated loans from two shareholders for $20 million.
Funds drawn on the one-year unsecured loans would be subordinated to
|
|
borrowings under the company’s current
bank facility. The company has the
option to extend the loan’s tenor by 90
days.
Stereotaxis also agreed to issue warrants
to the investors, equal to 20% of
the loan amount, exercisable at $6.99 per
share.
|
|
Additional warrants equal to 5%
of the funds drawn will be issued if the
company exercises its 90-day extension.
Based in St. Louis, Stereotaxis
develops cardiology instrument control
systems used for surgery to treat arrhythmia
and coronary artery disease.
|
|
|
|
|
Issuer:
|
Stereotaxis, Inc.
|
Warrants:
|
For 20% of the loan
|
|
Issue:
|
Loan
|
Warrant strike price:
|
$6.99
|
|
Amount:
|
$20 million
|
Announcement date:
|
Feb. 7
|
|
Tenor:
|
One year
|
Stock symbol:
|
Nasdaq: STXS
|
|
Stock price:
|
$6.74 at close Feb.
|
|
|
|
|
|
New Issue:
Universal Travel raises $3.51 million from stock sale
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Universal Travel Group said it completed a private placement of stock, raising $3.51 million.
The company sold 1,301,481 common shares at $2.70 per share.
|
|
The funds are being paid in three
installments. The first installment of
$600,000 was paid at closing. The
second installment of $1.4 million will
be paid by Feb. 28 and the balance of
$1.5 million will be paid 10 days after
|
|
the filing of the company’s 2007 annual report.
Proceeds will be used to reduce debt.
Los Angeles-based Universal Travel
provides reservation, booking, travel and
tourism services throughout China.
|
|
|
|
|
Issuer:
|
Universal Travel Group
|
Warrants:
|
No
|
|
Issue:
|
Common shares
|
Settlement date:
|
Feb. 7
|
|
Amount:
|
$3,513,999
|
Stock symbol:
|
OTCBB: UTVG
|
|
Shares:
|
1,301,481
|
Stock price:
|
$3.01 at close Feb. 6
|
|
Price:
|
$2.70
|
|
|
|
|
|
|
American Technologies in default on $2 million secured convertible note
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7 – American
Technologies Group, Inc. said in an 8-K
filing with the Securities and Exchange
Commission Thursday that noteholder
Laurus Master Fund, Ltd. notified the
company that it is in default on its $2
million secured convertible term B note.
The company said it received the
notice on Jan. 31. It also was notified by
LV Administrative Services, Inc., Laurus’
|
|
administrative and collateral agent, that
it owes $13,580,810 in principal, interest
and default fees with immediate payment
demanded by Feb. 1.
Since the company did not pay that
amount, it said in the filing that Laurus may
exercise its rights to take possession of the
note’s collateral in the form of subsidiary
stock, goods, inventory and other property,
as allowed under the pledge agreement.
The company said in the filing it is
|
|
in negotiations with Laurus to settle the
amount owed and that it expects an agreement
will be finalized in March. But it
emphasized that it cannot be certain that
these negotiations will be successful and
reiterated that Laurus still might pursue its
collateral collection rights.
Based in Monrovia, Calif., American
Technologies Group is a technology
company focused on the automobile aftermarket
and water purification sectors.
|
|
|
|
|
Friday February 8, 2008
|
Page 5
|
|
|
|
|
|
|
New Issue:
Digital Imaging Resources completes $1.8 million private placement of stocks
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Digital Imaging Resources, Inc. completed a $1.8 million private placement of stock, according to an 8-K filed Thursday with
|
|
Securities and Exchange Commission.
The company sold 30 million common
shares at $0.06 apiece. Investors also
received warrants for 750,000 shares, exercisable
at $0.08 for five years.
|
|
Swartwood, Hesse, Inc. was the agent.
Morristown, N.J.-based Digital
Imaging develops, produces and markets a
video recording system for sports training,
corporate entertaining and special events.
|
|
|
|
|
Issuer:
|
Digital Imaging Resources, Inc.
|
Warrants:
|
For 750,000 shares
|
|
Issue:
|
Common stock
|
Warrant expiration:
|
Five years
|
|
Amount:
|
$1.8 million
|
Warrant strike price:
|
$0.08
|
|
Shares:
|
30 million
|
Agent:
|
Swartwood, Hesse, Inc.
|
|
Price:
|
$0.06
|
Settlement date:
|
Feb. 6
|
|
Stock symbol:
|
OTCBB: DGIR
|
Stock price:
|
$0.09 at close Feb. 6
|
|
|
|
New Issue:
Pro-Pharmaceuticals negotiates $1.74 million placement of units
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Pro-Pharmaceuticals, Inc.has raised $1.74
million from a private placement of units,
according to an 8-K filed Thursday with the
Securities and Exchange Commission.
The company arranged to sell units
of one 12% series A convertible preferred
share and two warrants at $1.00 apiece on
Feb. 4. One of the unit warrants is exercisable
at $1.50 and the other at $2.00.
|
|
Both warrants are exercisable for four years.
The series A preferreds are convertible
into common shares at the holder’s option,
unless the closing price of the company’s
common stock exceeds $3.00 for 15
consecutive trading days. In that case, the
company may force conversion if a registration
statement covering the resale of the
|
|
common shares underlying the preferreds is in effect.
The stock has an 12% coupon, payable annually in cash or stock, at the company’s option.
As of Thursday, Pro-Pharmaceuticals
had sold 1,742,500 units.
Based in Newton, Mass., Pro-Pharmaceuticals develops anticancer treatments.
|
|
|
|
|
Issuer:
|
Pro-Pharmaceuticals, Inc.
|
Warrants:
|
Two warrants per unit
|
|
Issue:
|
Units of one 12% series A convertible preferred share and two warrants
|
Warrant expiration:
|
Four years
|
|
Amount:
|
$1,742,500
|
Warrant strike price:
|
$1.50, $2.00
|
|
Units:
|
1,742,500
|
Pricing date:
|
Feb. 4
|
|
Price:
|
$1.00
|
Stock symbol:
|
Amex: PRW
|
|
Stock price:
|
$0.59 at close Feb. 4
|
|
|
|
|
|
|
Friday February 8, 2008
|
Page 6
|
|
|
|
|
|
|
New Issue:
Exobox raises $2.43 million from private placement of units
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Exobox Technologies Corp.said it raised $2.43 million from a private placement of units.
|
|
The company sold 97 units of 250,000
common shares and a warrant to purchase
50,000 common shares at $25,000 per unit.
|
|
SwThe warrant is exercisable at $1.00 per share.
Based in Houston, Exobox is a network and end point security development and licensing company.
|
|
|
|
|
Issuer:
|
Exobox Technologies Corp.
|
Warrants:
|
One warrant per unit
|
|
Issue:
|
Units of 250,000 common shares and a warrant to purchase 50,000 common shares
|
Warrant strike price:
|
$1.00
|
|
Amount:
|
$2,425,000
|
Warrant strike price:
|
$1.00
|
|
Units:
|
97
|
Settlement date:
|
Feb. 7
|
|
Price:
|
$25,000
|
Stock symbol:
|
Pink Sheets: EXBX
|
|
Stock price:
|
$0.39 at close Feb. 7
|
|
|
|
|
|
New Issue:
MBF Healthcare plans $35 million private placement of shares
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– MBF Healthcare Acquisition Corp.will conduct
a $35 million private placement of stock,
according to an 8-K filed Thursday with the
|
|
Securities and Exchange Commission.
The company will sell 4,575,163
common shares at $7.65 per share.
Proceeds will be used to fund MBF’s
acquisition of Critical Homecare Solutions
|
|
Holdings, Inc., which also was announced in the filing.
Based in Coral Gables, Fla., MBF
Healthcare is a development-stage blank
check company.
|
|
|
|
|
Issuer:
|
MBF Healthcare Acquisition Corp.
|
Warrants:
|
No
|
|
Issue:
|
Common shares
|
Pricing date:
|
Feb. 7
|
|
Amount:
|
$35 million
|
Stock symbol:
|
Amex: MBH.U
|
|
Shares:
|
4,575,163
|
Stock price:
|
$8.42 at close Feb. 7
|
|
Price:
|
$7.65
|
|
|
|
|
|
|
Friday February 8, 2008
|
Page 7
|
|
|
|
|
|
|
New Issue:
Noront wraps C$26 million private placement of units
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Noront Resources Ltd.announced it has completed a C$26 million private placement of units.The company sold 6.5 million units of one common share and one half-share warrant at C$4.00 apiece.
|
|
The whole warrants will be exercisable
at C$5.00 for two years. The warrants may
expire sooner if the company’s shares close
at C$6.00 or higher for 10 consecutive
trading days. In that case, the warrants will
expire 30 days after the company notifies
holders.
|
|
IBK Capital Corp. was the agent.
The company said proceeds of the units
“will provide Noront with the financial
strength to develop its assets independent of
near-term market fluctuations.”
Based in Toronto, Noront Resources is
a gold exploration company.
|
|
|
|
|
Issuer:
|
Noront Resources Ltd
|
Warrants:
|
One half-share warrant per unit
|
|
Issue:
|
Units of one common share and one half-share warrant
|
Warrant expiration:
|
Two years
|
|
Amount:
|
C$26 million
|
Warrant strike price:
|
C$5.00
|
|
Units:
|
6.5 million
|
Agent:
|
IBK Capital Corp.
|
|
Price:
|
C$4.00
|
Settlement date:
|
Feb. 7
|
|
Stock symbol:
|
TSX Venture: NOT
|
Stock price:
|
C$4.23 at close Feb. 6
|
|
|
|
New Issue:
PetroGlobe plans C$2 million private placement of shares
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– PetroGlobe Inc.announced it will conduct a private placement of stock for C$2 million.
|
|
The company will sell 10 million common shares at C$0.20 each.
Settlement is expected on Feb. 11. Proceeds will be used for exploration
|
|
and general working capital requirements.
PetroGlobe is an oil and natural gas exploration company based in Calgary, Alta.
|
|
|
|
|
Issuer:
|
PetroGlobe Inc.
|
Warrants:
|
No
|
|
Issue:
|
Common shares
|
Pricing date:
|
Feb. 6
|
|
Amount:
|
C$2 million
|
Settlement date:
|
Feb. 11
|
|
Shares:
|
10 million
|
Stock symbol:
|
TSX Venture: PGB
|
|
Price:
|
C$0.20
|
Stock price:
|
C$0.24 at close Feb. 6
|
|
|
|
|
Friday February 8, 2008
|
Page 8
|
|
|
|
|
|
|
New Issue:
Chemokine Therapeutics completes C$1.05 million private placement of units
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Chemokine Therapeutics Corp.said it has settled a
non-brokered C$1.05 million private placement of units.
|
|
The company sold 5.25 million units of one common share and one warrant at
C$0.20 apiece.
The warrants will be exercisable at C$0.30 for five years.
|
|
Proceeds will be used for research, development, working capital and general
corporate purposes.
Chemokine is a biotechnology
company located in Vancouver, B.C.
|
|
|
|
|
Issuer:
|
Chemokine Therapeutics Corp.
|
Warrants:
|
One warrant per unit
|
|
Issue:
|
Units of one common share and one warrant
|
Warrant expiration:
|
Five years
|
|
Amount:
|
C$1.05 million
|
Warrant strike price:
|
C$0.30
|
|
Units:
|
5.25 million
|
Agent:
|
Non-brokered
|
|
Price:
|
C$0.20
|
Settlement date:
|
Feb. 7
|
|
Stock symbol:
|
Toronto: CTI
|
Stock price:
|
C$0.20 at close Feb. 6
|
|
|
|
New Issue:
Sola arranges C$1 million private placement of units
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Sola Resource Corp.said it will raise C$1 million in a non-brokered private placement of units.
The company will sell 2,857,142 flowthrough
|
|
units of one flow-through share and one half-share warrant at C$0.35 apiece to the MineralFields Group.
Two warrants will be exercisable for one common share at C$0.50 for 18 months.
|
|
Proceeds will be used to finance the company’s MacKay Lake exploration program.
Calgary, Alta.-based Sola is a mineral exploration company.
|
|
|
|
|
Issuer:
|
Sola Resource Corp.
|
Warrants:
|
One half-share warrant per unit
|
|
Issue:
|
Units of one flow-through share and one half-share warrant
|
Warrant expiration:
|
18 months
|
|
Amount:
|
C$1 million
|
Warrant strike price:
|
C$0.50
|
|
Units:
|
2,857,142
|
Agent:
|
Non-brokered
|
|
Price:
|
C$0.35
|
Investor:
|
MineralFields Group
|
|
Pricing date:
|
Feb. 7
|
Stock symbol:
|
TSX Venture: SL
|
|
Stock price:
|
C$0.34 at close Feb. 6
|
|
|
|
|
|
|
Friday February 8, 2008
|
Page 9
|
|
|
|
|
|
|
New Issue:
Intrinsyc arranges C$30.03 million private placement of shares
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Intrinsyc Software International,Inc.announced it will conduct a C$30.03 million private placement of stock.
The company will sell 28.6 million common shares at C$1.05 each.
The deal is being conducted by a syndicate of underwriters co-led by GMP Securities LP and Canaccord Capital Corp. and
|
|
including Haywood Securities Inc. and Raymond James Ltd. The underwriters have a greenshoe for up to 4.29 million shares, or C$4.5 million.
Settlement is expected Feb. 27.
Proceeds will be used for working capital and general corporate purposes, including possible future acquisitions.
Intrinsyc is a mobile software and services company based in Vancouver, B.C.
|
|
|
|
|
Issuer:
|
Intrinsyc Software International, Inc.
|
Warrants:
|
No
|
|
Issue:
|
Common shares
|
Underwriters:
|
MP Securities L.P., Canaccord Capital Corp. (co-leads), Haywood Securities Inc., Raymond James Ltd.
|
|
Amount:
|
C$30.03 million
|
Pricing date:
|
Feb. 7
|
|
Greenshoe:
|
For 4.29 million shares, or C$4,504,500
|
Settlement date:
|
Feb. 27
|
|
Shares:
|
28.6 million
|
Stock symbol:
|
Toronto: ICS
|
|
Price:
|
C$1.05
|
Stock price:
|
C$1.20 at close Feb. 6
|
|
|
|
New Issue:
Largo completes C$2 million tranche of C$3 million private placement of units
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Largo Resources Ltd.said it raised C$2 million in the first tranche of a C$3 million private placement of units that priced Jan. 25.
In this tranche, Largo sold 3,636,363 flow-through units at C$0.55 each to MineralFields Group. The company plans to sell a total of 5,454,545 units at that price to MineralFields.
|
|
The units consist of one flow-through share and one half-share warrant with each whole warrant exercisable at C$0.80 for 18 months.
Largo will pay First Canadian Securities a 6.5% cash finder’s fee and 381,818 compensation options. For this tranche, Largo issued 254,545 options.
|
|
Each compensation option is exercisable into units at C$0.55 for 18 months. Each compensation unit will be comprised of one non-flow-through common share and one half-share warrant.
Proceeds will be used for exploration. Largo is a Toronto-based resource development and exploration company.
|
|
|
|
|
Issuer:
|
Largo Resources Ltd.
|
Warrant expiration:
|
18 months
|
|
Issue:
|
Units of one flow-through share and one half-share warrant
|
Warrant strike price:
|
C$0.80
|
|
Amount:
|
C$3 million
|
Investor:
|
MineralFields Group
|
|
Units:
|
5,454,545
|
Pricing date:
|
Jan. 25
|
|
Price:
|
C$0.55
|
Settlement date:
|
Feb. 7 (for C$2 million)
|
|
Warrants:
|
One half-share warrant per unit
|
Stock symbol:
|
TSX Venture: LGO
|
|
Stock price:
|
C$0.41 at close Jan. 24
|
|
|
|
|
|
|
Friday February 8, 2008
|
Page 10
|
|
|
|
|
|
|
New Issue:
Fortress lifts private placement of stock to C$15.6 million
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– Fortress Minerals Corp.said it is increasing a non-brokered private placement of shares to raise C$15.6 million. The deal priced for C$13 million on Jan. 31.
|
|
The company now plans to sell 12 million common shares, increased from 10 million shares, at C$1.30 apiece. Vostok Nafta Investment Ltd. will buy 6 million shares for C$7.8 million.
Proceeds will be used to repay a Jan.
|
|
Proceeds will be used to repay a Jan.8 loan, for work at the company’s Svetloye project in Russia and general working capital purposes.
Vancouver, B.C.-based Fortress is a precious and base metals exploration company.
|
|
|
|
|
Issuer:
|
Fortress Minerals Corp.
|
Agent:
|
Non-brokered Investor: Vostok Nafta Investment Ltd. (for C$7.8 million)
|
|
Issue:
|
Common shares
|
Pricing date:
|
Jan. 31
|
|
Amount:
|
C$15.6 million
|
Upsized:
|
Feb. 7
|
|
Shares:
|
12 million
|
Stock symbol:
|
TSX Venture: FST
|
|
Price:
|
C$1.30
|
Stock price:
|
C$1.34 at close Jan. 30
|
|
Warrants:
|
No
|
|
|
|
|
|
New Issue:
AssetCo raises £6.4 million in private placement of stock
|
|
|
By Devika Patel
Knoxville, Tenn., Feb. 7
– AssetCo plcsaid it has raised about £6.4 million in a private placement of shares.
The company sold 3,359,932 ordinary shares.Hoare Govett Ltd. and Kaupthing Singer & Friedlander Capital Markets Ltd. were the underwriters. Proceeds will be used for corporate development.
Middlesex, England-based AssetCo provides support services to the emergency services market.
|
|
The company now plans to sell 12 million common shares, increased from 10 million shares, at C$1.30 apiece. Vostok Nafta Investment Ltd. will buy 6 million shares for C$7.8 million.
Proceeds will be used to repay a Jan.
|
|
Proceeds will be used to repay a Jan.8 loan, for work at the company’s Svetloye project in Russia and general working capital purposes.
Vancouver, B.C.-based Fortress is a precious and base metals exploration company.
|
|
|
|
|
Issuer:
|
AssetCo plc
|
Underwriters:
|
Hoare Govett Ltd., Kaupthing Singer & Friedlander Capital Markets Ltd.
|
|
Issue:
|
Ordinary shares
|
Settlement date:
|
Feb. 7
|
|
Amount:
|
£6.4 million (approximate)
|
Stock symbol:
|
London: ASTO
|
|
Shares:
|
3,359,932
|
Stock price:
|
190.5p at close Feb. 6
|
|
Warrants:
|
No
|
|
|
|
|
|
|
Friday February 8, 2008
|
Page 11
|
|
|
|
|
|
| UAL, Continental up on merger talk; Chiquita comes in rich; Bunge down
|
By Evan Weinberger
New York, Feb. 7 – UAL Corp. and Continental Airlines Inc. convertibles took off Thursday as speculation about mergers in the airline industry grew. Even AMR Corp., the parent company of American Airlines, was up, and they weren’t mentioned in the merger talk.
Chiquita Brands International Inc.upsized its offering of convertible senior notes due 2016 and brought them to market beyond the rich end of talk. They closed slightly higher.
RadiSys Corp. priced its $50 million in convertible senior notes due 2013 at the rich end, but few, if any, saw it trade. The
|
|
convertibles priced at par.
Bunge Ltd. convertibles were trampled on disappointing guidance for the coming year.
Mylan Inc. convertibles suffered a similar fate because the pharmaceutical company wouldn’t provide guidance for its fourth-quarter and 2007 earnings later in the month.
SLM Corp., the parent company of student loan giant Sallie Mae, closed higher after it promised to cut expenses 20% over the next two years. Trading on the major indices was bumpy Thursday as investors continued to pour through downbeat economic data.
|
|
THE PROSPECT NEWS CONVERTIBLES DAILY HAS ALL YOU NEED TO PREPARE FOR A CONVERTIBLES TRADING SESSION - OR AT LEAST EVERYTHING THAT CAN BE SENT IN AN E-MAIL.
EVERY TRADING DAY OUR TEAM OF EXPERIENCED REPORTERS BRINGS YOU:
- INSIGHTFUL MARKET COMMENTARY – THE REPORT ON THIS PAGE IS A SHORTENED SUMMARY;
- DETAILED NEW ISSUE COVERAGE, FROM ANNOUNCEMENT THROUGH TALK TO PRICING AND THEN TRADING;
- CONVERTIBLES NEWS, INCLUDING RATINGS ACTIONS AND TENDER OFFERS.
TAKE A TWO WEEK, NO COMMITMENT FREE TRIAL TO FIND OUT FOR YOURSELF.VISIT WWW.PROSPECTNEWS.COM, E-MAIL SERVICE@PROSPECTNEWS.COM OR CALL 212 374 2800.
|
|
|
|
The Prospect News online news database helps you find what you’re looking for in seconds.
Conveniently accessible from your web browser, the Prospect News online news database gives you access to all our news reports with just a few clicks of the mouse. You can read headlines for free and the full text is available at the low cost of just $1.00 for most items and $4.00 for latest news.
|
|
All stories are indexed by issuer name.
And there’s special sections for tenders and redemptions, league tables and monthly and annual issuance summaries, and rating trends.
For full access go to www.prospectnews.com and follow the News Database link.
|
|
|
|
|
Friday February 8, 2008
|
Page 12
|
|
|
|
|
|
|
Date
|
Issuer
|
Amount
($mln)
|
Issue
|
Agent
|
Shares
(mln)
|
Price/
Conversion
|
Premium
|
Stock
price
|
Warrants
|
|
|
2/7/2008
|
TerreStar Corp.
|
$300
|
exchangeable notes
|
-
|
-
|
$5.57
|
23.23%
|
$4.52
|
-
|
|
2/7/2008
|
Stereotaxis, Inc.
|
$20
|
loan
|
-
|
-
|
-
|
-
|
-
|
Yes
|
|
2/7/2008
|
Universal Travel Group
|
$3.514
|
common shares
|
-
|
1.301
|
$2.7
|
-10.30%
|
$3.01
|
-
|
|
2/7/2008
|
ForgeHouse, Inc.
|
$2.1
|
class A convertible preferred stock
|
-
|
-
|
-
|
-
|
$1.60
|
Yes
|
|
2/7/2008
|
BioLargo, Inc.
|
$1
|
10.000% convertible promissory notes
|
-
|
-
|
-
|
-
|
$1.88
|
-
|
|
2/6/2008
|
Digital Imaging Resources, Inc.
|
$1.8
|
common stock
|
Swartwood, Hesse, Inc.
|
30
|
$0.06
|
-33.33%
|
$0.09
|
Yes
|
|
2/5/2008
|
Freedom Financial Group, Inc.
|
$15
|
greater of 6% and prime rate plus 2%,adjusted daily
|
-
|
-
|
-
|
-
|
$0.12
|
-
|
|
2/4/2008
|
China Automotive Systems, Inc.
|
$35
|
3.000% senior convertible notes
|
-
|
-
|
$8.8527
|
30.96%
|
$6.76
|
Yes
|
|
2/4/2008
|
Mezey Howarth Racing Stables, Inc.
|
$10
|
investment agreement
|
-
|
-
|
-
|
-
|
$0.18
|
-
|
|
2/4/2008
|
Migami Inc.
|
$3
|
stock
|
-
|
-
|
$0.7
|
900.00%
|
$0.07
|
-
|
|
2/4/2008
|
PureDepth, Inc.
|
$3
|
8.000% convertible notes
|
-
|
-
|
-
|
-
|
$0.28
|
Yes
|
|
2/4/2008
|
Pro-Pharmaceuticals, Inc.
|
$1.742
|
12.000% units of one 12% series A convertible
|
-
|
-
|
-
|
-
|
$0.59
|
Yes
|
|
2/1/2008
|
China Sky One Medical, Inc.
|
$25
|
shares, warrants
|
Global Hunter
|
2.5
|
$10
|
-17.36%
|
$12.10
|
Yes
|
|
2/1/2008
|
HSW International, Inc.
|
$11.04
|
shares
|
-
|
3
|
$3.68
|
-4.17%
|
$3.84
|
-
|
|
1/31/2008
|
HSW International, Inc.
|
$5.812
|
shares
|
-
|
1.579
|
$3.68
|
-8.23%
|
$4.01
|
-
|
|
1/31/2008
|
Tri-Valley Corp.
|
$3.63
|
restricted common shares
|
-
|
0.65
|
-
|
-
|
$6.67
|
-
|
|
1/31/2008
|
Intraop Medical Corp.
|
$3.01
|
shares
|
-
|
43
|
$0.07
|
-50.00%
|
$0.14
|
-
|
|
1/31/2008
|
Vista International Technologies, Inc.
|
$2
|
restricted common shares
|
-
|
20
|
$0.1
|
11.11%
|
$0.09
|
-
|
|
1/31/2008
|
DPAC Technologies Corp.(QuaTech, Inc.)
|
$1.2
|
13.000% senior subordinated promissory
|
-
|
-
|
-
|
-
|
$0.01
|
Yes
|
|
1/30/2008
|
GelTech Solutions, Inc.
|
$2
|
common shares and warrants
|
-
|
3.03
|
-
|
-
|
-
|
Yes
|
|
1/30/2008
|
Radcom Ltd.
|
$2.5
|
ordinary shares
|
-
|
-
|
$0.64
|
-9.86%
|
$0.71
|
Yes
|
|
1/29/2008
|
Access Pharmaceuticals, Inc.
|
$2.7
|
series A convertible preferred stock
|
-
|
-
|
$2.97
|
2.41%
|
$2.90
|
Yes
|
|
1/28/2008
|
China Housing & Land Development, Inc.
|
$20
|
5.000% senior secured convertible notes
|
-
|
-
|
$5.57
|
34.22%
|
$4.15
|
Yes
|
|
1/28/2008
|
VisCorp, Inc.
|
$15.225
|
10.000% units of convertible exchangeable notes
|
-
|
-
|
-
|
-
|
$0.45
|
Yes
|
|
1/28/2008
|
Artes Medical, Inc.
|
$6.5
|
10.000% senior secured note
|
-
|
-
|
-
|
-
|
$2.42
|
Yes
|
|
1/28/2008
|
| |