UPDATE 1-North American Palladium ups offering size to C$87 mln

* Raised bought-deal offering by C$12 mln

* To offer 2.4 mln shares more



April 21 (Reuters) - Canada's North American Palladium Ltd raised its bought-deal size by 16 percent to C$87 million by offering more units.

The precious metals company said the underwriters, co-led by Cormark Securities Inc and Haywood Securities Inc, agreed to buy 2.4 million more units of the company taking the number of units offered to 17.4 million at C$5 a piece.

Each whole warrant shall entitle the holder to acquire an additional common share at a price of C$6.50 during the period ending 18 months following the closing of the offering, it said in a statement.

The company said the units consist of one common share and half of one common share purchase warrant.

The company granted an over-allotment option for the underwriters to buy up to 2.6 million units more.

On April 20, the company said it would raise C$75 million through a bought-deal financing.

Shares of the company were trading down 5 percent at $4.94 in morning trade Wednesday on the Toronto Stock Exchange.

(Reporting by Aftab Ahmed in Bangalore; Editing by Don Sebastian)

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Keywords: NORTHAMERICANPALLADIUM/

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