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ADENTRA Announces Closing of Bought Deal Offering of Common Shares
ADENTRA Announces Closing of Bought Deal Offering of Common Shares Canada NewsWire ...
About this update from Adentra Inc
[{"type":"text","content":"\n \n \n \n ADENTRA Announces Closing of Bought Deal Offering of Common Shares\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n LANGLEY, BC\n \n \n ,\n \n \n June 12, 2024\n \n \n /CNW/ - ADENTRA Inc. (TSX: ADEN) (\"\n \n ADENTRA\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has closed its previously announced bought deal treasury offering (the \"\n \n Offering\n \n \") and concurrent closing of the exercise in full of the over-allotment option granted to a syndicate of underwriters, with National Bank Financial Inc. and Cormark Securities Inc. acting as co–bookrunners (collectively, the \"\n \n Underwriters\n \n \"). Pursuant to the Offering, the Company issued an aggregate 2,582,900 common shares (the \"\n \n Shares\n \n \") at a price of\n \n $38.75\n \n (the \"\n \n Offer Price\n \n \") for gross proceeds of\n \n $100,087,375\n \n . The gross proceeds include 336,900 Shares issued at the same Offer Price for gross proceeds of\n \n $13,054,875\n \n on the exercise in full of the over-allotment option granted to the Underwriters.\n \n \n The Company intends to use the net proceeds of the Offering to repay bank indebtedness including under its revolving credit facility, thereby increasing the amount available to be drawn under the revolving credit facility to fund potential strategic acquisitions and for general corporate purposes.\n \n \n \n About ADENTRA Inc.\n \n \n \n ADENTRA is one of\n \n North America's\n \n largest distributors of architectural building products to the residential, repair and remodel, and commercial construction markets. The Company currently operates a network of 85 facilities in\n \n the United States\n \n and\n \n Canada\n \n . ADENTRA's common shares are listed on the Toronto Stock Exchange under the symbol ADEN.\n \n \n \n Forward-Looking Statements\n \n \n \n Certain statements in this press release contain forward-...