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Nelvana Offers 3.75M Shares

Nelvana Limited announced that it has filed with the Ontario Securities Commission to offer 3.75 million subordinate voting shares of the company in the U.S. and Canada. A portion of the money gained from the new offering will be used to repay loans for the purchase of Klutz Publishing, a leading U.S. childrens book publisher. The remainder of the funds will be used to pay off borrowings under the firms credit facilities. The producer of children favs BABAR and FRANKLIN is selling 3,684,032 shares and the remaining 65,968 shares are being sold by two unnamed shareholders. The lead underwriters are Bear, Stearns & Co. Inc. and the co-managers are SG Cowen Securities Corp. and RBC Dominion Securities Corp.

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