Anaergia Inc. (TSX: ANRG) closed its initial public offering today, raising gross proceeds of $175 million. The company started trading its common shares on the Toronto Stock Exchange on June 18, 2021.
The company was able to issue 12.5 million subordinate voting shares at a price of $14.00 per share.
The public offering was made through a syndicate of underwriters led by TD Securities Inc. and Barclays Capital Canada. The underwriters still have a 30-day over-allotment option to purchase additional 1,875,000 shares at the same share price. Should this be exercised, the initial public offering’s proceeds could increase by $26.3 million.
According to its company website, Anaergia is an “integrated waste-to-value platform created to eliminate greenhouse gases by cost-effectively turning organic waste into renewable natural gas, fertilizer, and water.”
The company first announced the filing of its preliminary prospectus for initial public offering plans in a press release last June 8, 2021. In the announcement, it first relayed that it is expecting gross proceeds for the IPO to be approximately $200 million at an offering price between $17.00 and $20.00 per share.
Anaergia Inc. last traded at $13.38 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
