BRIEF-Cara Operations enters agreement to sell 7.9 mln subscription receipts

Wed Apr 6, 2016 7:00pm EDT
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April 6 (Reuters) - Cara Operations Ltd :

* Cara announces $230 million private placement of subscription receipts

* Entered agreement to sell 7.9 million subscription receipts on a private placement basis

* Subscription receipts will be sold at $29.25 per subscription receipt, for gross proceeds to company of $230 million

* Net proceeds from offering will be used to finance, in part, purchase price under co's agreement to acquire 100% of groupe st-hubert

* Has entered into agreement with syndicate of agents to sell 7.9 million subscription receipts on private placement basis Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)