- Hot Chili Limited (HCH) closed its Canadian initial public offering and the issue of 21.6 million shares has been completed for CA$33.4 million (A$36 million)
- An aggregate of 21,567,286 units of Hot Chilli were distributed at a price of CA$1.55 (A$1.67)
- A total of 8,754,745 new shares were issued within the company’s additional 10 per cent placement capacity
- New shares will be issued at a price of CA$1.55 (A$1.67) each
- Hot Chili Limited (HCH) is up 5.59 per cent, trading at $1.70 per share as of 11:02 a.m. AEDT
Hot Chili Limited (HCH) closed its Canadian initial public offering and the issue of 21.6 million shares have been completed for CA$33.4 mill105 million).
A total of 12,812,541 shares were issued within Hot Chilli’s 15 per cent placement capacity.
A total of 8,754,745 new shares were issued within the company’s additional 10 per cent placement capacity.
New shares will be issued at a price of CA$1.55 (A$1.67) each.
The issue of 232,714 Shares, to Blue Spec Sondajes Chile SpA is subject to shareholder approval.
The issue of a total of 10,900,000 warrants will be subject to shareholder approval.
The 10,900,000 warrants and the 1,259,789 underwriter warrants are held by 24 January.
The ordinary shares are expected to commence trading next week on the TSX Venture Exchange under the symbol “HCH”.
An aggregate of 21,567,286 units of Hot Chilli was distributed at a price of CA$1.55 A$1.67).
Over 2.4 million units were exercised under the underwriters’ over-allotment option.
Each unit consists of one ordinary share and one-half of one ordinary share purchase warrant receipt.
Each full warrant receipt is convertible into one ordinary share purchase warrant for no further consideration upon the satisfaction of shareholder approval.
Each full warrant shall be exercisable to acquire one ordinary share.
Warrants will be issued at an exercise price of CA$2.50 (A$2.70) per warrant share.
The units have separated into their component parts immediately upon issue.
Hot Chilli Limited (HCH) is up 6.52 per cent, trading at $1.72 per share as of 11:23 am AEDT.