Ten Peaks Coffee Company Inc. is pleased to announce the closing of the previously announced bought deal offering of 2,000,000 common shares (“Shares”) of the Company, at a price of $8.80 per Share for gross proceeds of approximately $17.6 million.
The offering was completed through a syndicate of underwriters led by Cormark Securities Inc. and including CIBC World Markets Inc. and PI Financial Corp. (the “Underwriters”).
The Company has granted the Underwriters an option (“Over-Allotment Option”) to purchase up to an additional 300,000 Shares from the treasury of the Company at the offering price exercisable at any time up to 30 days following July 28, 2015, for market stabilization purposes and to cover over-allotments, if any.
Ten Peaks is a publicly traded company that owns all of the interests of the Swiss Water Decaffeinated Coffee Company Inc. (“SWDCC”), a premium green coffee decaffeinator located in Burnaby, BC., Canada.
It also owns and operates Seaforth Supply Chain Solutions Inc. (“Seaforth”), a green coffee handling and storage business located in Metro Vancouver.
