COM DEV Announces $20 Million Bought Deal Financing
CAMBRIDGE - COM DEV International Ltd. has
entered into an agreement with a syndicate of underwriters led by Genuity
Capital Markets and including GMP Securities L.P. and Paradigm Capital Inc.
Under the agreement, the syndicate has agreed to purchase 6,780,000 common
shares from the Company at a price of $2.95 per common share, representing an
aggregate amount of issue of $20,001,000. The Company has extended to the
underwriters the option, until 30 days following closing, to purchase up to an
additional 1,017,000 common shares at the same offering price. The transaction
is subject to receipt of all necessary regulatory and stock exchange
Net proceeds of the offering will be used to pursue strategic
opportunities, including progressing the commercialization of COM DEV's
Automatic Identification System (AIS) technology. Closing is expected on or
about February 26, 2009.
The securities offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any State in which such offer, solicitation or sale would be unlawful.
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