Centerra GoldInc. said July 20 that it has raised C$195.5 million through abought-deal financing of 26,599,500 subscription receipts priced at C$7.35 pershare.
Underwriters fully exercised their overallotment option.
Net proceeds total about C$185.7 million and will be used topartially repay notes of ThompsonCreek Metals Co. Inc., which Centerra is acquiring in a deal worth an estimated US$1.1 billion.
Upon completion of the transaction, existing Centerra andThompson Creek shareholders will own about a 92% and 8% respective stake of theresulting entity on a fully diluted in-the-money basis.
The Thompson Creek transaction is expected to close in fall2016.
Major Centerra shareholder, Kyrgyzstan state-backedKyrgyzaltyn JSC,recently votedagainst the company's planned takeover of Thompson Creek, althoughit does not have the voting power to block the transaction, according toReuters.