Ed's Thread

[Ed Monton]

OPTI was such a great trade for me earlier in the year. Glad I got out of it though...

CALGARY, June 25 /CNW/ - OPTI Canada Inc. (OPCDF:$2.0000,$0.0000,0.00%) ("OPTI" or the "Company") is providing an update on its previously announced public offering (the "Offering") of common shares (the "Common Shares") conducted through a syndicate of underwriters led by TD Securities Inc., Credit Suisse Securities (Canada), Inc. and RBC Capital Markets as joint bookrunners, together with Scotia Capital Inc., CIBC World Markets Inc., FirstEnergy Capital Corp., HSBC Securities (Canada) Inc. and National Bank Financial Inc. (the "Underwriters"). After conducting a broad, overnight marketed offering that was fully subscribed, OPTI reached an agreement with its Underwriters yesterday morning to issue 88,250,000 Common Shares at a price of $1.70 per share ("Offering Price") for total gross proceeds of approximately $150 million. OPTI also agreed to grant the Underwriters a 15% over-allotment option.