In addition, Shawcor announces that the underwriters have provided the company with notice of the exercise by the underwriters of their over-allotment option to purchase 686 250 additional common shares of the company at a price of US$32.80 per common share (the over-allotment option), in accordance with the terms of the underwriting agreement dated 9 December 2016 between the company and the underwriters.
With the over-allotment option being exercised in full, gross proceeds from the offering will be approximately CAN$173 million.
The offering and the over-allotment option are expected to close on or about 23 December 2016.
