Geothermal company Magma Energy Corporation announces pricing of public offering

29 June 2009

Magma Energy Corporation, a geothermal company, has priced its initial public offering of 66,667,000 common shares at CAN$1.50 per share for total gross proceeds of around CAN$100m.

A syndicate of underwriters co-led by Raymond James and Cormark Securities managed the offering. Other members involved were Canaccord Capital Corporation, National Bank Financial, Dundee Securities Corporation, Jacob & Company Securities and Wellington West Capital Markets.

Magma has granted the option to the underwriters to purchase up to an additional 10,000,050 common shares at the offering price of CAN$1.50 per share to cover over-allotments and for market stabilisation reasons.

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Tags: geothermal

This story was published on Monday, June 29th, 2009 at 3:55 pm and is filed under North America, companies, geothermal. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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