GLG Life Tech Corp. Closes Underwriters’ Over-Allotment Option
December 2, 2009 (FinancialWire) — GLG Life Tech Corp. (TSX: GLG) (NASDAQ: GLGL) (GLG” or the company), the vertically integrated leader in the agricultural and industrial development of high quality stevia extracts, announced that the underwriters of its recently completed equity offering (the “offering) have purchased an additional 543,750 common shares from the company at the public offering price of $7.60 per share for gross proceeds of $4,132,500 in connection with the closing of the full amount of the underwriters’ over-allotment option.
This brings the total gross proceeds raised from the offering to $31,682,500.
GLG expects to use the net proceeds from the offering primarily for registered capital payments for the company’s Runhao subsidiary, debt repayment, working capital requirements and/or for other general corporate purposes.
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