- ReGen III (GIII) has closed its previously announced bought deal public offering of common shares
- The company issued 9,200,000 common shares at a price of $1.25 per share for gross proceeds of $11.5 million
- ReGen III intends to use the net proceeds for engineering, design, US Gulf Coast project site selection and general and administrative purposes
- ReGen III is a cleantech company that is building sustainable green projects
- ReGen III Corp. (GIII) opened trading at C$1.18 per share
ReGen III (GIII) has closed its previously announced bought deal public offering of common shares.
The company issued 9,200,000 common shares at a price of $1.25 per share for gross proceeds of $11.5 million, including the full exercise of the over-allotment option.
The offering was conducted by a syndicate of underwriters led by Paradigm Capital Inc. and including Canaccord Genuity Corp., Haywood Securities Inc. and Cormark Securities Inc.
The common shares were qualified for distribution in Canada by way of a short-form prospectus filed in British Columbia, Alberta, and Ontario.
ReGen III intends to use the net proceeds for engineering, design, US Gulf Coast site selection and general and administrative purposes.
Greg Clarkes, Chairman and CEO of ReGen III, stated,
“We thank Paradigm for leading the bought deal financing and the syndicate members for their support throughout a highly successful offering process. An additional thank you and welcome to our new institutional and retail investors for their overwhelming confidence in our corporate vision and for sharing our environmental goals. We look forward to putting the funds to work immediately and continuing to work with the Underwriters as we advance our USGC project.”
ReGen III is a cleantech company that is building sustainable green projects.
ReGen III owns a portfolio of patented technologies that enable used motor oil re-refineries to produce a higher value product mix of base oils than traditional methods, including 55% Group III.
ReGen III Corp. (GIII) opened trading at C$1.18 per share.