ATS Automation Tooling Systems Inc. Announces Treasury Issue For 3 Million Common Shares
Toronto, Ontario --
ATS Automation Tooling Systems Inc. today announced it has entered into an agreement to issue 3,000,000 common shares on a bought deal basis at a price of $35.25 per common share to a syndicate of underwriters led by Merrill Lynch Canada Inc.
Aggregate proceeds from the offering will be $105,750,000. The underwriters have also been granted an option to purchase up to 450,000 additional common shares at the same offering price for a period expiring at closing. Closing is expected on or about July 31, 2000 and is subject to normal regulatory approvals. A preliminary short form prospectus to qualify the offering for distribution to the public will be filed with securities regulatory authorities in Canada within two business days.
Proceeds of the offering will be used for general corporate purposes.
ATS Automation Tooling Systems Inc. (www.atsautomation.com) is the world's leading designer and producer of turn-key automated manufacturing and test systems, which are used primarily by multinational corporations operating in a variety of industries: automotive, computer/electronics, healthcare, consumer products and others. The Company also makes precision components and sub-assemblies using its own custom-built manufacturing systems, process knowledge and automation technology. ATS employs approximately 2,900 people at 24 facilities in Canada, the United States, Europe and Asia-Pacific. The Company's shares are traded on The Toronto Stock Exchange under the symbol ATA.
For more information:
Ron Jutras, ATS Chief Financial Officer
519 653 6500
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