Veritas to offer shares at $1.30 apiece in fund raising for Mad Butcher purchase

Mon, 25 Mar 2013

March 26 (BusinessDesk) - Veritas Investments, the shell company that’s acquiring the Mad Butcher franchisor business, will offer shares at $1.30 apiece, raising up to $25 million to help fund the purchase. The price represents a premium to the volume weighted average price of the stock in the three months before the $40 million cash and scrip acquisition was announced on Dec. 20 though it is 29 percent below the price Veritas stock last traded at, of $1.82. Veritas expects to register a prospectus later this week. The capital raising will c...

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