People Corporation closes C$20 million private placement financing
On October 6, 2016, People Corporation ("People") completed its previously announced bought deal private placement of 5,439,500 shares at a price of C$3.70 per share to a syndicate of underwriters, co-led by Cormark Securities Inc. and Acumen Capital Finance Partners Limited and including Laurentian Bank Securities Inc., for gross proceeds to the People of C$20,126,150. The offering included approximately 709,500 shares issued as a result of the exercise in full of the underwriters' over-allotment option.
The net proceeds of the offering will be used to fund growth initiatives and general corporate purposes.
People is a national provider of group benefits, group retirement and human resource services.
Further information can be found on Marketwired's website.