Janney Investment Banking – News

April 17, 2014 – Legacy Reserves LP  (NasdaqGS: LGCY) announced the completion of a $50 million underwritten public offering of 2,000,000  shares of 8.25% Series B cumulative redeemable preferred stock at a public offering price of $25.00 per share. LGCY also granted the underwriters a 30-day option to purchase up to 300,000 additional preferred shares. Janney served as a co-manager on this transaction.

April 17, 2014 – Ecochlor, Inc. (“Ecochlor”) closed on a $10 million private placement of common stock. The new shareholders will join Sojitz Marine & Engineering Corporation, the shipping subsidiary of the Japanese trading company, Sojitz Corporation, Hub Angels Investment Group, management and a select  number of other corporate and individual investors as owners of Ecochlor common stock.  Ecochlor will use proceeds from the offering to increase its sales resources and engineering personnel; increase working capital funds; expand physical facilities; and other general corporate purposes.  Janney served as exclusive financial advisor and sole placement agent for this transaction. 

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