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| Home : Student Transportation Inc. Announces C$75 Million Bought Deal Financing - Public Offering of Common Shares in Canada and the U.S. |
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Feb 27
2012 |
Student Transportation Inc. Announces C$75 Million Bought Deal Financing - Public Offering of Common Shares in Canada and the U.S. |
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BARRIE, ONTARIO--(Marketwire - Feb. 27, 2012) - Student Transportation Inc. ("STI" or the "Company") (TSX:STB)(NASDAQ:STB) announced today that it has entered into an agreement, on a bought deal basis, to sell 10,950,000 common shares of STI (the "Common Shares") at a price of C$6.85 per Common Share to raise gross proceeds of C$75 million. The transaction is being underwritten by a syndicate led by BMO Capital Markets. The Underwriters have the option to purchase up to an additional 15% of the offering at any time prior to 30 days following the closing date, to cover over-allotments, if any. Closing of the offering is expected to occur on or about March 19, 2012, and is subject to regulatory approvals. |
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| Source:http://www.marketwire.com/mw/release.do?id=1624998&sourceType=3 |
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