Cott to raise $50 million through share offer
August 05, 2009
by FoodBusinessNews.net Staff
TORONTO — Cott has entered an agreement with a team of underwriters, including TD Securities, Inc., that will purchase 9,435,000 common shares at $5.30 per share for a total of $50,005,500.
Cott plans to use the proceeds from the offering for either the repayment of a portion of its 8% Senior Subordinated Notes due December 2011 or for repayment of a portion of its outstanding indebtedness under the asset based lending facility.
The offer is expected to close by Aug. 11.