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Fri, Aug. 8, 8:28 AM
- Sprott Resource (OTCPK:SCPZF) has announced that its investee company, Independence Contract Drilling (NYSE:ICD), has priced its IPO of 10M shares of common stock at $11 per share.
- The underwriters of the offering have a 30-day option to purchase up to an additional 1.5M shares from Independence Contract Drilling to cover any over-allotments.
- Sprott Resource has agreed to purchase 600K shares, increasing its ownership in ICD to 19.8% after giving effect to the offering and assuming the underwriters 30-day option to purchase additional shares is not exercised.
- The offering is expected to close on or about Aug. 13.
Oct. 22, 2013, 3:59 PM
SCPZF vs. ETF Alternatives
Sprott Resource Corp. (TSX: SCP) is a resource-focused private equity investor managed by one of Canada's leading teams of resource private equity specialists. The company currently has investments in oil and gas, mining, agriculture and agricultural nutrients. SRC takes an active involvement in... More
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