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Boyd Group Services Inc. Completes Bought Deal Financing totalling C$231,495,000
Boyd Group Services Inc. Completes Bought Deal Financing totalling C$231,495,000 C...
About this update from Boyd Group Services Inc
[{"type":"text","content":"\n\n\n\nBoyd Group Services Inc. Completes Bought Deal Financing totalling C$231,495,000\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\nCanada NewsWire\nWINNIPEG, May 14, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n WINNIPEG, May 14, 2020 /CNW/ - Boyd Group Services Inc. (TSX: BYD) (\"BGSI\" \"Boyd\" or the \"Boyd Group\") today announced that it has closed its previously announced bought deal financing (the \"Offering\") consisting of 1,100,000 shares (the \"Shares\") at a price of $183.00 per share. The Offering was led by CIBC Capital Markets, Cormark Securities Inc., Goldman Sachs and National Bank Financial Inc., acting as co-leads and joint bookrunners, on behalf of a syndicate of underwriters (collectively, the \"Underwriters\"). Prior to the closing, the Underwriters exercised their over-allotment option in full, acquiring an additional 165,000 Shares, which increased the amount of gross proceeds realized under the Offering to $231,495,000.\nThe Company intends to use the net proceeds of the Offering to fund potential future acquisition opportunities once the impact of COVID-19 is better understood, as well as to further strengthen its balance sheet through either holding cash or debt repayment, and for general corporate purposes.\nThis news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.\nAbout Boyd Group Services Inc.Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://www.boydgroup.com.\...