so will this set a bottom for the stock?

 

cheers,

dave.

 

 

Niko Resources arranges $252-million in offerings

2012-11-15 16:23 ET - News Release

 

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Mr. Edward Sampson reports

NIKO RESOURCES LTD. ANNOUNCES CDN$252 MILLION OF OFFERINGS OF COMMON SHARES AND CONVERTIBLE UNSECURED SENIOR NOTES AND REFINANCING PLAN FOR OUTSTANDING CONVERTIBLE DEBENTURES

Niko Resources Ltd. has reached an agreement with a syndicate of underwriters led by RBC Capital Markets pursuant to which Niko has agreed to issue, on a bought-deal basis: (i) 12 million Niko common shares at $8.50 per common share for gross proceeds of $102-million and (ii) $100-million principal amount of convertible unsecured senior notes at a price of $1,000 per note for aggregate gross proceeds of $202-million. The Company has also granted the Underwriters an over-allotment option to purchase up to an additional 1,800,000 Common Shares and Cdn$10 million principal amount of Notes on the same terms and conditions, exercisable in whole or in part at any time following closing of the Offering for a period of 30 days.

Niko has also agreed to issue 5,882,400 Niko common shares at Cdn$8.50 per common share via a separate concurrent Cdn$50 million offering (the "Concurrent Offering") to Maju Investments (Mauritius) Pte. Ltd., the primary holder of the Company's outstanding Cdn$310 million of convertible debentures due December 30, 2012 (the "Outstanding Debentures").