Mr. Blair Goertzen reports
ENERFLEX LTD. ANNOUNCES CLOSING OF BOUGHT DEAL FINANCING INCLUDING EXERCISE IN FULL OF OVER-ALLOTMENT OPTION
Enerflex Ltd. has closed its public offering of 8,952,750 common shares at a price of $12.85 per share, which includes 1,167,750 common shares issued pursuant to the exercise in full of the overallotment option, for gross proceeds of approximately $115-million.
The public offering was underwritten by a syndicate of underwriters led by Scotiabank and TD Securities.
The net proceeds of the offering will be used by the company to finance the balance of its 2016 and 2017 capital expenditure program, potential acquisitions that may be identified from time to time and for general working capital and corporate purposes.
About Enerflex
Enerflex is a single-source supplier of natural gas compression, oil and gas processing, refrigeration systems and electric power equipment -- plus in-house engineering and mechanical service expertise.
Headquartered in Calgary, Canada, Enerflex has approximately 1,900 employees worldwide.
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