Dalradian closes IPO for $34.05-million
2010-08-10 08:44 ET - News Release
Ms. Annemarie Brissenden reports
DALRADIAN CLOSES INITIAL PUBLIC OFFERING
Dalradian Resources Inc. has closed its initial public offering of 22.7 million units of the company at a price of $1.50 per unit for gross proceeds of $34.05-million. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share of the company at an exercise price of $2.25 until Aug. 10, 2011. The company has granted to the agents an overallotment option to purchase up to an additional 3,405,000 units, exercisable until Sept. 9, 2010, to cover overallotments, if any, and for market stabilization purposes. If such option is exercised in full, gross proceeds of the offering will be $39,157,500.