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Canaccord Genuity Group Inc. Announces Upsize of Previously Announced Treasury Offering of Convertible Unsecured Senior Subordinated Debentures to $125 Million
Canaccord Genuity Group Inc. Announces Upsize of Previously Announced Treasury Offering of...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Upsize of Previously Announced Treasury Offering of Convertible Unsecured Senior Subordinated Debentures to $125 Million\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 2, 2018\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/\n\n\n\nTORONTO, Aug. 2, 2018 /CNW/ - Canaccord Genuity Group Inc. (TSX:CF, \"the Company\") is pleased to announce that it has entered into an amended agreement with the syndicate of underwriters (collectively, the \"Underwriters\"), to increase the size of the previously announced bought deal offering to 51,500 convertible debentures (the \"Initial Debentures\"), at a price of $1,000 per Initial Debenture (the \"Issue Price\"), for gross proceeds of $51.5 million (the \"Offering\") which, in combination with the previously announced $73.5 million concurrent non-brokered private placement (the \"Private Placement Debentures\"), represents a total aggregate principal amount of $125 million.  \n\nThe Company has also granted the Underwriters the option to purchase up to an additional 7,725 convertible unsecured senior subordinated debentures (the \"Additional Debentures\" and, together with the Initial Debentures and the Private Placement Debentures, the \"Convertible Debentures\"), at the Issue Price, for additional gross proceeds of $7,725,000, exercisable in whole or in part, at any time up to 30 days following the closing date of the Offering.  \n\nThe Convertible Debentures will bear interest at a rate of 6.25% per annum, payable semi-annually on the last day of December and June each year commencing December 31, 2018. The Convertible Debentures will be convertible at the holder's option into common shares of the Company, at a conversion price of $10.00 per common share. The Convertible Debentures will mature on December 31, 2023 and may be redeemed by the Company in certain circumstances, on or after December 31, 2021. \n\nThe Company intends to use the proceeds of the Offering and concurr...