Input Capital (TSXV: INP) – Initiating Coverage - First ... - Baystreet.ca

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Source:Barcharts
We believe that slower growth in supply and increasing demand for canola will lead to
increasing pricing for canola. We expect in the medium term the price to fluctuate around the
current $500-550 level.
Corporate
Structure
Input Capital went public on July 22, 2013, at a deemed price of $1.52, through a reverse
takeover of WB II, a capital pool company (“CPC”).
As of March 31, 2013, the fiscal year end for Input, there were 34.8 million shares
outstanding. The following summarizes the shares issued.
• Private placements in 2012 raised $20.3 million by issuing 20.48 million units, or
$0.995 per unit.
• Acquisition of 25.7% of Input Capital Limited Partnership for 0.97 million shares,
valued at $0.87 million, or $0.90 per share. Over 70% was held by one investor who
did not want to convert to Input shares.
• Acquisition of 87.1% of LP2 for 1.03 million shares and received of $0.95 million in
cash and receivables, or $0.95 per share.
• Acquisition of 90.8% of LP3 for 2.35 million shares and received $2.2 million in
cash and receivables, or $0.95 per share.
• 10 million founder shares, issued to Input’s management were issued for proceeds of
$999. This was structured by GMP Securities L.P, the lead underwriter of the private
placement.
Input currently has 35,577,273 shares outstanding. The increase in shares is the result of
shares given to WB II. The following shows the share structure, as of the July 5, 2013.
© 2013 Fundamental Research Corp. “10 Years of Bringing Undiscovered Investment Opportunities to the Forefront “ www.researchfrc.com
PLEASE READ THE IMPORTANT DISCLOSURES AT THE BACK OF THIS REPORT