03:43:19 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Baylin Technologies Inc
Symbol BYL
Shares Issued 31,207,357
Close 2018-07-03 C$ 3.27
Market Cap C$ 102,048,057
Recent Sedar Documents

Baylin files prospectus supplement for offering

2018-07-04 00:33 ET - News Release

Ms. Kelly Myles reports

BAYLIN TECHNOLOGIES ANNOUNCES FILING OF PROSPECTUS SUPPLEMENT

Baylin Technologies Inc. has filed a prospectus supplement to a short form base shelf prospectus dated Nov. 16, 2017, in connection with its previously announced bought deal offering of subscription receipts and 6.5 per cent extendible convertible unsecured debentures of the company. The prospectus supplement describes in detail the terms of the offering and has been filed with securities regulators in each of the provinces and territories of Canada.

The subscription receipts and debentures may also be offered in those jurisdictions outside of Canada which are agreed to by the company and the underwriters, where the subscription receipts and debentures can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements. The offering is being conducted by a syndicate of underwriters led by Raymond James Ltd., and including Paradigm Capital Inc. and National Bank Financial Inc.

The offering is expected to close on or about July 10, 2018, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

It is anticipated that certain directors and officers of the company will purchase up to 3,304,094 subscription receipts and $7,558,000 principal amount of debentures pursuant to the offering. By virtue of the participation of such insiders, the offering would constitute a "related party transaction" under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company expects to release a material change report including details with respect to the related party transaction less than 21 days prior to the closing of the offering, which the company has deemed to be reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the offering in an expeditious manner. The company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101.

About Baylin Technologies Inc.

Baylin is a diversified leading global wireless technology management company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio frequency products and services. Baylin aspires to meet customers' needs and to anticipate the direction of the market.

We seek Safe Harbor.

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