Welcome To The Silver Standard Resources HUB On AGORACOM
SSO on the TSX, SSRI on the NASDAQ
Message: Announces Closing of Public Offering of Common Shares
| February 27, 2009 |
| Silver Standard Announces Closing of Public Offering of Common Shares |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2009) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) reports the closing of its previously announced public offering of common shares (the "Offering"). Pursuant to the Offering, the company today issued 5.45 million common shares at a price of US$17.00 per share, for aggregate net proceeds of approximately US$88 million after underwriting commissions. The company intends to use the net proceeds from this Offering for the development of mineral properties, working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes. The company has also granted to the underwriters of the Offering an option, exercisable for a period of 30 days following the closing of the Offering, to purchase additional common shares for additional gross proceeds of up to approximately US$13.9 million. UBS Securities Canada Inc. acted as lead manager of the Offering. Deutsche Bank Securities Inc.; Credit Suisse Securities (USA) LLC; Dahlman Rose & Co., LLC; Morgan Stanley & Co. Incorporated; Scotia Capital Inc.; Blackmont Capital Inc.; GMP Securities L.P.; National Bank Financial Inc.; and Salman Partners Inc. acted as co-managers of the Offering. A copy of the final prospectus supplement and the short form base shelf prospectus may be obtained in Canada from UBS Securities Canada Inc. at 161 Bay Street, Suite 4100, Toronto, Ontario M5J 2S1 (416-364-2201 telephone) or in the United States from UBS Securities LLC at 299 Park Avenue, New York, NY 10171 (212-821-3000 telephone). |
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