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Cargojet Announces Closing of C$350 Million Bought Deal Equity Offering
Cargojet Announces Closing of C$350 Million Bought Deal Equity Offering Canada ...
About this update from Cargojet Inc.
[{"type":"text","content":"\n \n \n \n Cargojet Announces Closing of C$350 Million Bought Deal Equity 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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n MISSISSAUGA, ON\n \n ,\n \n Feb. 1, 2021\n \n /CNW/ - Cargojet Inc. (\"Cargojet\" or the \"Company\") (TSX: CJT) is pleased to announce that it has closed its previously announced offering of 1,642,000 common voting shares (\"Common Voting Shares\") and/or variable voting shares (\"Variable Voting Shares\" and, together with the Common Voting Shares, the \"Shares\") of Cargojet at a price of\n \n C$213.25\n \n per Share (the \"Offering Price\") for aggregate gross proceeds to Cargojet of\n \n C$350,156,500\n \n (the \"Offering\"). The Offering was made pursuant to a final short form prospectus dated\n \n January 25, 2021\n \n (the \"Prospectus\").\n \n \n The Company intends to apply the net proceeds of the Offering to fund the following strategic priorities:\n \n \n \n \n \n \n \n (a)\n \n \n \n \n \n \n Expand Domestic Capacity and Facilities. The COVID-19 pandemic has generally increased demand for Cargojet's domestic air cargo services due to the dramatic increase in e-commerce activity. The Company intends to use a portion of the net proceeds of the Offering, along with cash on hand and drawings on its revolving credit facility, to fund growth capital expenditures and acquisition of five B767 freighter aircraft for re-delivery in 2021/2022 (with the last delivery in 2023) (approximately $200.0 million), as well as investments in a new hanger and additional land-based facility infrastructure in Canada. The infrastructure investments w...