Read Larry Connors' blog – Short Term Trading Strategies
Silver Standard Resources, Inc. (SSR), a Canada-based development stage company focused on the acquisition, exploration, and development of silver projects, has priced its public offering of 2,725,288 common shares at a price of $17 per share to raise gross proceeds of approximately $46 million.
The company has also granted the underwriters of the offering an option, exercisable for a period of 30 days following the closing of the offering, to purchase additional common shares for additional gross proceeds of up to approximately $4.6 million.
The offering is expected to close on or about August 17, 2009.
Announcement (August 11, 2009):
SSR has filed a preliminary prospectus supplement with the securities commissions in each of the provinces of Canada and the US Securities and Exchange Commission to raise approximately $46 million in a secondary offering.
As part of the transaction, SSR will also grant to the underwriters a 30 days option, to purchase additional common shares for additional gross proceeds of up to approximately $4.6 million, to cover over-allotments, if any.
UBS Securities Canada, Inc. is acting as the sole book-running manager for the offering.
Deal Value (US$ Million) 46 Deal Type IPO Sub-Category Secondary Offering Deal Status Announced: 2009-08-11
Deal Participants
Target (Company) Silver Standard Resources, Inc.
Deal Rationale
SSR would use the net proceeds from the offering to fund the development of mineral properties, for working capital requirements, repay indebtedness outstanding from time to time, and for other general corporate purposes.
Offer Price ($ per share) 17 No. Shares Issued 2725288
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
