Timminco Ltd., a producer of low-cost, solar-grade silicon, has completed its equity offering of 7.04 million common shares at a price of $3.55 per share for aggregate gross proceeds of $25 million.
Net proceeds of the financing were $24.2 million and will be used for general corporate purposes, which include repayment of funds drawn on the company's revolving credit facility. The financing was co-led by Clarus Securities Inc. and TD Securities Inc. as Timminco's exclusive agents.
SOURCE: Timminco Ltd.
