Business News • MarketWire • Orange Capital Completes Investment in Tuckamore |
Orange Capital Completes Investment in Tuckamore |
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Orange Capital Completes Investment in Tuckamore
TORONTO, ONTARIO--(Marketwired - Aug. 5, 2014) - Orange Capital, LLC, through Orange Capital Master I, Ltd., which is an investment fund managed by it (collectively "Orange Capital") acquired, by way of private placement, ownership and control of 16,666,667 common shares (each a "Share") of Tuckamore Capital Management Inc. ("Tuckamore") at a price of $0.80 per Share, for total gross proceeds of $13,333,333.60 (the "Private Placement"). The Private Placement was completed pursuant to the terms of a subscription agreement (the "Subscription Agreement") dated July 25, 2014 among Tuckamore and Orange Capital and a letter agreement between the parties as of August 1, 2014. Based on the 96,941,241 common shares of Tuckamore outstanding after completion of the Private Placement, Orange Capital holds 17.2% all of the issued and outstanding common shares of Tuckamore. The Shares acquired are the only shares of Tuckamore currently held by Orange Capital.
View More : http://www.marketwired.com/mw/release.do?id=1935741&sourceType=3
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