South32 tops up stake to keep 19.9% ownership in American Eagle
American Eagle will issue 660,000 common shares at C$1.09 each, raising gross proceeds of C$719,400. The price is set under the South32 IRA, with no warrants or finder’s fees. South32 will increase its holding from about 19.7% to about 19.9% after closing, subject to a statutory four-month-and-one-day hold, relying on MI 61-101 exemptions.