ONCAP’s Pinnacle adjusts IPO target, seeks up to $172 mln
Pinnacle Renewable Holdings Inc, a Richmond, British Columbia-based industrial wood pellet maker and distributor, has filed a final prospectus with Canadian securities regulators for an initial public offering. The company is seeking to raise $150 million, or about $172 million if the greenshoe option is fully exercised. Pinnacle previously targeted as much as $200 million, including the greenshoe option. The prospectus in its final form no longer identifies ONCAP, the mid-market private equity arm of Onex Corp, among the IPO's selling shareholders, which are targeted to raise as much as $102 million. ONCAP bought a majority stake in Pinnacle in 2011.
31 January 2018•3 mins read
