TORONTO, May 6 /CNW/ - Star Hedge Managers Corp. II (the "Fund") is
pleased to announce that the Fund has completed an issuance of an
additional 487,771 units ("Units") of the Fund pursuant to the exercise
of the over-allotment option granted to the Fund's Agents in its
recently completed initial public offering which closed on April 20,
2011. Each Unit consists of one Class A share ("Class A Share") of the
Fund and one warrant ("Warrant") to purchase one Class A Share.
Altogether, the Fund has raised gross proceeds of $64.8 million,
including the proceeds from the over-allotment option.
The Fund is also pleased to announce that, immediately following the
closing of the over-allotment option, each Unit of the Fund separated
into one Class A Share and one Warrant of the Fund. Upon separation of
the Units, there are 6,487,771 Class A Shares and 6,487,771 Warrants
issued and outstanding. The Class A Shares and the Warrants are listed
and now trade separately on the Toronto Stock Exchange under the
symbols XHG and XHG.WT, respectively.
Each Warrant entitles the holder to purchase one Class A Share at a
subscription price of $10.00 on April 30, 2012. Warrants may be
tendered for exercise on and after April 16, 2012 and up to April 27,
2012. Warrants not tendered for exercise by 5:00 p.m. (Toronto time) on
April 27, 2012 may not be exercised and will be void and of no value.
The Fund has been created to provide long term capital growth by investing in a portfolio consisting
of private investment funds managed by three of Canada's leading
portfolio managers: Rohit Sehgal of Dynamic Funds, Eric Sprott of
Sprott Asset Management LP and Frank Mersch of Front Street Investment
BMO Nesbitt Burns Inc. is the promoter and one of the Agents in
connection with the offering and will act as administrator of the Fund.
The Units were offered for sale by a syndicate of agents co-led by BMO
Capital Markets, CIBC, National Bank Financial Inc., Scotia Capital
Inc. and TD Securities Inc. and included Canaccord Genuity Corp.,
Dundee Securities Ltd., GMP Securities L.P., HSBC Securities (Canada)
Inc., Raymond James Ltd., Desjardins Securities Inc., Macquarie Private
Wealth Inc., Manulife Securities Incorporated and Wellington West
Capital Markets Inc.
SOURCE Star Hedge Managers Corp. II
For further information:
For more information, please visit www.bmocm.com.