Creo Announces $50.0 Million Equity Financing
Tuesday, March 02, 2004
VANCOUVER, British Columbia--March 1, 2004-- Creo Inc. announced today that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets for the issuance of 5,000,000 common shares at a price of C$13.39 per common share or US$10.00 per common share for total gross proceeds of approximately C$67.0 million or US$50.0 million based on current exchange rates. The issue is being underwritten on a bought deal basis and is being made by way of a prospectus filed in all provinces of Canada and a registration statement filed in the United States, and is subject to regulatory approval. Closing of the offering is expected on or about March 15, 2004. Creo intends to use these proceeds for general corporate and working capital purposes to support the execution of its digital media strategy and the capitalization and integration of its recent acquisitions, financing investment opportunities, and for additions to its facilities including adding new manufacturing capacity for plates and hardware and expanding capacity at existing plants.