Air Canada announces $260 million bought deal offering of units
06-Oct-2009 Air Canada (the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Genuity Capital Markets and TD Securities Inc. (the "Underwriters") to purchase 160,500,000 units (the "Units") from Air Canada at a price per Unit of C$1.62 for aggregate gross proceeds of C$260,010,000.
Each Unit is to be comprised of one Class B Voting Share or one Class A Variable Voting Share (the "Shares") and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of C$2.20 per Share (the "Exercise Price") at any time prior to 5:00 p.m. (Toronto time) on the date that is 36 months after the closing date of the Offer.