/This release is intended for distribution in Canada only and is not
intended for distribution to United States newswire services or for
dissemination in the United States/
- 5N Plus Inc. Issues 10 Million Shares for Proceeds of $30 Million
- II-VI Incorporated Sells All of its Shares of 5N Plus for Proceeds of
MONTREAL, Dec. 20 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) today completed
its previously-announced initial public offering and secondary offering of
20,671,801 common shares at a price of $3.00 per share, for total proceeds of
$62 million. The Company's common shares commenced trading today on the
Toronto Stock Exchange under the symbol "VNP".
At closing, 5N Plus issued 10,000,000 common shares from treasury, for
gross proceeds to the Company of $30 million. The net proceeds from the
treasury offering will be used by 5N Plus primarily to: (i) fund the
construction of its new 40,000 square-foot manufacturing facility in
Eisenhuttenstadt, Germany, intended to increase the Company's annual cadmium
telluride production capacity; (ii) fund various capital expenditures at its
Montreal facility; and (iii) repay the Company's bank loan and a portion of
its long-term debt. The balance of the net proceeds from the treasury offering
will be used by 5N Plus for general corporate purposes and working capital.
In addition, II-VI Incorporated of Saxonburg, Pennsylvania, a minority
shareholder, sold 10,671,801 common shares for gross proceeds to II-VI
Incorporated of $32 million. As a result, II-VI Incorporated (NASDAQ GS:IIVI)
does not hold any shares of 5N Plus. 5N Plus did not receive any proceeds from
the secondary offering by II-VI Incorporated.
The 20,671,801 common shares were sold to a syndicate of underwriters led
by National Bank Financial Inc. and including GMP Securities L.P., Blackmont
Capital Inc., MGI Securities Inc. and Laurentian Bank Securities Inc.
Following the closing of the initial public offering and secondary
offering, there are 40,000,000 common shares of 5N Plus issued and
The common shares of 5N Plus have not been registered under the United
States Securities Act of 1933, as amended, and subject to certain exceptions,
may not be offered or sold within the United States.
About 5N Plus Inc.
5N Plus draws its name from the purity of its products, 99.999% (five
nines or 5N) and more. 5N Plus, which has its head office in Montreal, Québec,
develops and produces high-purity metals and compounds for electronic
applications and provides its customers with recycling solutions. The Company
is an integrated producer with both primary and secondary refining
capabilities. 5N Plus focuses on specialty metals such as tellurium, cadmium
and selenium and on related compounds such as cadmium telluride and cadmium
sulphide. The Company's products are critical precursors in a number of
electronic applications, including the rapidly-expanding solar (thin-film
photovoltaics) market, for which 5N Plus is a major supplier of cadmium
telluride, and the radiation detector market.
Additional information about 5N Plus is available on its Web site at
For further information:
For further information: Jacques L'Ecuyer, President and Chief Executive
Officer, 5N Plus Inc., (514) 856-0644, Jacques.Lecuyer@5nplus.com