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Hardwoods Announces Closing of C$100.6 Million Bought Deal Common Share Offering
Hardwoods Announces Closing of C$100.6 Million Bought Deal Common Share Offering ...
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[{"type":"text","content":"\n \n \n \n Hardwoods Announces Closing of C$100.6 Million Bought Deal Common Share Offering\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 \n \n /\n \n \n \n NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n LANGLEY, BC\n \n ,\n \n Dec. 7, 2021\n \n /CNW/ - Hardwoods Distribution Inc. (TSX: HDI) (\"\n \n HDI\n \n \" or the \"\n \n Company\n \n \") announced today that it closed its previously announced bought deal public offering of common shares (the \"\n \n Common Shares\n \n \") in the capital of the Company through a syndicate of underwriters led by Cormark Securities Inc. and National Bank Financial Inc., as co-lead underwriters and joint bookrunners (collectively, the \"\n \n Lead Underwriters\n \n \") and CIBC Capital Markets, Acumen Capital Finance Partners Limited, Canaccord Genuity Corp. and BMO Capital Markets (together, with the Lead Underwriters, the \"\n \n Underwriters\n \n \").\n \n \n The Company issued an aggregate of 2,326,680 Common Shares (the \"\n \n Offering\n \n \"), including 303,480 Common Shares issued pursuant to the exercise in full of an over-allotment option granted to the Underwriters. The Common Shares were sold at a price of\n \n $43.25\n \n per Common Share for total gross proceeds to HDI of\n \n $100,628,910\n \n . In connection with the Offering, the Underwriters received a cash commission equal to 4% of the gross proceeds from the sale of the Common Shares.\n \n \n HDI issued the Common Shares to repay certain indebtedness of the Company and for working capital and general corporate purposes.\n \n \n The Common Shares will be listed for trading on the Toronto Stock Exchange under the symbol \"HDI\". The Common Shares were qualified for distribution by way of a short form prospectus in  each of the Provinces of\n \n Canada\n \n .\n \n \n This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be  any sale of the...