On June 7, 2017, Delphi Energy Corp. (“Delphi”) closed its previously announced financing comprised of the sale of (i) 27,559,055 common shares issued at a price of $1.27 per common share; and (ii) 30,000 senior secured CELTM notes, each with a principal amount of $1,000 and a 10% coupon, for gross proceeds of approximately $65.3 million. As a result of this transaction, the enhanced liquidity will support Delphi’s planned accelerated capital program.
A syndicate of agents, led by Raymond James Ltd. and co-led by AltaCorp Capital Inc., sold the common shares, and Raymond James Ltd., as sole agent, sold the CELTM notes, all on a private placement basis.
Delphi is a Canada-based company that is engaged in the acquisition for and exploration, development, and production of crude oil, natural gas and natural gas liquids in western Canada.
Osler, Hoskin & Harcourt LLP represented Delphi with a team that was led by Robert Lehodey and supported by Heidi Wong, Justin Sherman and Bryce Kustra (Corporate).