Montreal based SR Telecom Inc. (SRT), which has over 1000 employees and designs, manufactures, markets and installs advanced digital wireless access products for public, private and industrial telecommunication networks, announced on February 4, 2000 the closing of an equity issue of $19.8 million of common stock.
The share issue was placed by a syndicate of underwriters led by CIBC World Markets and included Newcrest Capital Inc., Scotia Capital Inc. and Northern Securities Inc. SRT issued 3.6 million common shares from treasury at a price of $5.50 per share for an aggregate consideration of $19.8 million. The underwriters have exercised an option to purchase an additional 400,000 shares to cover over-allotments.
Legal advice to SRT was provided by Robert Paré, Peter Villani and Caroline Thomassin of the Montreal office of Fasken Martineau DuMoulin LLP. Sydney J. Isaacs and J. Anthony Penhale of the Montreal office of Stikeman Elliott represented the underwriters.