QUEBEC – Atrium Innovations Inc. (TSX:ATB), a maker of natural health products, says it has struck financing deals to raise up to $100 million that will be used to pay down debt.
The Quebec City company said Tuesday it had entered into a bought deal with underwriters to issue $75 million of of 5.75 per cent convertible unsecured subordinated debentures.
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In addition the company is also issuing $25 million in debentures in a private placement.
Atrium shares were halted on the TSX pending the news.
The public offering is slated to close Aug. 9.
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Each debenture can be converted into common shares of Atrium at a conversion price of $24.60 each.
Atrium manufactures natural health products which it distributes to the healthcare industry and health food and specialized stores in North America and Europe.
The company has more than 1,000 employees and operates seven manufacturing plants.
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