Alliance Closes $61 Million Underwriting.TORONTO--(BUSINESS WIRE)--Nov. 5, 1997--(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AAC (Advanced Audio Coding) An audio compression technology that is part of the MPEG-2 and MPEG-4 standards. AAC, especially MPEG-4 AAC, provides greater compression and better sound quality than MP3, which also came out of the MPEG standard. .)(ME:AAC.) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALLIF) Alliance Communications Corporation announced today that the Company and certain shareholders have closed the previously announced offering of 2,800,000 Class B Non-Voting Shares from treasury and 600,000 from the selling shareholders at a price of $18.00 per Class B Non-Voting Share for total gross proceeds of $61,200,000. The underwriting syndicate Underwriting syndicate A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: Lead underwriter. underwriting syndicate See syndicate. was lead by Yorkton Securities Inc. and CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. Securities Inc., and also included First Marathon Securities Limited, Midland Walwyn Capital Inc. and RBC Dominion Securities
The Company intends to use the net proceeds of the issue to fund the expansion of the development, production, acquisition and distribution activities of its television programming and motion picture businesses; the expansion of its broadcast business; the expansion of its financing services; and possible acquisitions of related businesses. Alliance Communications Corporation is a worldwide filmed entertainment company headquartered in Toronto with offices in Montreal, Vancouver, Los Angeles, Paris and Shannon. Its voting and non-voting shares trade in Toronto and Montreal under the symbol AAC, and its non-voting shares are listed on NASDAQ under the symbol ALLIF. CONTACT: Alliance Communications Corp., Toronto George Burger, 416/967-1174 |
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