Four days after announcing a private placement of senior secured notes and warrants, Jaguar amended the terms to offer convertible senior secured debentures instead (press release dated September 18, 2015). The filing text provided contains only the cover page and exhibit index, so amounts, conversion price, rate and maturity are not stated. Shareholders should expect possible dilution from conversion (inference from the word 'convertible').
Jaguar announced a private placement of units of senior secured notes and warrants (press release dated September 14, 2015). The filing text provided contains only the cover page and exhibit index, so the amount, interest rate, warrant terms and use of proceeds are not available. It appears to supersede the debenture offering revised in May, though the text does not say so (inference), and the May debenture closing was never confirmed in these filings.
27 Feb 2015capital raising announcement● NeutralMajor
Jaguar plans to issue up to $20 million of 12% senior secured convertible debentures, convertible at C$0.50 per share, to repay the $12.4 million Renvest credit facility and for general corporate purposes. Closing is expected around March 26, 2015, subject to TSX-V approval. Conversion could dilute existing shareholders. Separately, the board formed a special committee, with Origin Merchant Partners as financial adviser, to review alternatives including a merger, asset sales or partnerships; there is no assurance any transaction results.
2 Mar 2009capital raising announcement● NeutralMajor
Jaguar closed a share offering of 13,915,000 common shares at Cdn$6.20, raising Cdn$86,273,000 gross; this includes 1,815,000 shares from the underwriters' over-allotment option, exercised in full. Led by RBC Capital Markets and Blackmont Capital, proceeds are intended for developing the Caete Project and general purposes. This is a second raise after the Cdn$13.40 offering in February 2008, at a much lower price, so it dilutes existing holders more per dollar raised. The company again states it has no gold hedges.
What it means for a shareholder
13.9m new shares at C$6.20 to raise about C$86.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
27 Feb 2008capital raising announcement● NeutralMajor
Jaguar closed a public share offering of 8,250,000 common shares at Cdn$13.40, raising Cdn$110,550,000 gross, led by RBC Capital Markets. Underwriters have an option for up to 1,237,500 more shares (total Cdn$127,132,500 if fully used). Proceeds are intended mainly for exploration and expansion capex at its three largest Brazilian projects, to eliminate forward sales contracts and project financing term debt (following the September 2007 decision to end the hedge), and general purposes. This adds shares, diluting existing holders.
