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Canaccord Genuity Group Inc. Announces Closing of $60 Million Private Placement of Convertible Unsecured Senior Subordinated Debentures
Canaccord Genuity Group Inc. Announces Closing of $60 Million Private Placement of Convert...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Closing of $60 Million Private Placement of Convertible Unsecured Senior Subordinated Debentures\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\nCanaccord Genuity Group Inc. Announces Closing of $60 Million Private Placement of Convertible Unsecured Senior Subordinated Debentures\nCanada NewsWire\nTORONTO, Oct. 27, 2016\n\n\n\n\n\n\nNOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES \n\n\n\nTORONTO, Oct. 27, 2016 /CNW/ - Canaccord Genuity Group Inc. (TSX:CF, the Company\") is pleased to announce the closing of a private placement of convertible unsecured senior subordinated debentures of Canaccord Genuity Group Inc. in the aggregate principal amount of $60 million. The debentures were placed with a large Canadian asset manager. \n\nAs previously announced, the Company intends to use the net proceeds to finance growth in its wealth management business in Canada through the recruitment of Investment Advisors and for general corporate purposes. \n\nThe debentures will bear interest at a rate of 6.50% per annum, payable semi-annually on the last day of June and December each year commencing December 31, 2016 with a maturity date of December 31, 2021. The debentures will be convertible at the holder's option into Canaccord Genuity Group Inc. common shares at a conversion price of $6.50 per share. The debentures will mature on December 31, 2021 and may be redeemed by Canaccord Genuity Group Inc., in certain circumstances, on or after December 31, 2019.\n\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The debentures offered, and the common shares issuable upon the conversion or redemption of the debentures, have not been and will not be registered under the U.S. Securities Act of 1933 or state securities laws. Accordingly, the debentures may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration.\n\nCAUTION REGARDING FORWARD-LOOKING STATEMENT...