Pawnee Leasing Corporation - IPO
Pawnee Leasing Corporation announces completion of Acquisition and Initial Public Offering by Chesswood Income Fund
Online, October 23, 2009 (Newswire.com) - News Release
FOR IMMEDIATE RELEASE - May 11, 2006
Contact:
Gary H. Souverein, President & COO
Pawnee Leasing Corporation
970-482-2556, ext. 222
Pawnee Leasing Corporation announces completion of Acquisition and Initial Public Offering by Chesswood Income Fund
Fort Collins, CO, May 11, 2006 - Pawnee Leasing Corporation (Pawnee) will operate as a U.S. subsidiary of Chesswood Income Fund (Chesswood) following the successful closing of an Initial Public Offering of Chesswood, and concurrent conversion of cars4U Ltd into Chesswood, effective May 10, 2006.
"Chesswood provides Pawnee with access to the public markets, a significant opportunity that will allow us to continue growth in our core business and seek accretive opportunities that leverage our disciplined operations", said Gary Souverein, Pawnee's President and COO. "This will be a transparent event for our broker/lessor customers as our current management and employee team continue to enhance our leadership in the small-ticket start-up and "B" credit markets."
"Pawnee's excellent management team, years of consistent performance and commitment to future expansion were key elements in the successful Initial Public Offering" stated Barry Shafran, Chesswood's President and CEO.
Chesswood issued 5,778,193 trust units at C$10.00 per unit, for gross proceeds of C$57,781,930. The offering was underwritten by a syndicate of underwriters led by TD Securities Inc. and Canaccord Capital Corporation and including Blackmont Capital Inc., Wellington West Capital Markets Inc., Desjardins Securities Inc. and Genuity Capital Markets G.P. Units of Chesswood will trade on the Toronto Stock Exchange under symbol CHW.UN.
Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982, purchases small-ticket "Start-Up" and "B" Credit transactions exclusively from a national network of brokers/lessors. For more information please contact Gary Souverein, at 800-864-4266.
P/memos/gary/051106 Chesswood press release