Dominion Lending Centres Inc. Announces $59.15 million Secondary Private Placement Offering of Class A Common Shares; Provides Preliminary 2024 Results

About this update from Dominion Lending Centres, Inc. (canada) Class A

[{"type":"text","content":"Dominion Lending Centres Inc. Announces $59.15 million Secondary Private Placement Offering of Class A Common Shares; Provides Preliminary 2024 Results\n\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.\n \n\n\n\n VANCOUVER, British Columbia, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Dominion Lending Centres Inc. (TSX:DLCG) (“DLCG” or the “Corporation”), along with Mauris Family Investments Inc. (an entity controlled by Gary Mauris) and 603908 BC Ltd. (an entity controlled by Chris Kayat and family), announced today that they have entered into an agreement with Desjardins Capital Markets as sole bookrunner and lead agent (the “Agent”), on behalf of a syndicate of agents (together “the Agents”), in respect of a fully marketed offering of up to 7,782,400 class “A” common shares (the “Offered Shares”) to be completed by the Selling Shareholders (as defined below) at a price of $7.60 per Offered Share for gross proceeds to the Selling Shareholders of approximately $59.15 million (the “Offering”). DLCG will not receive any proceeds from the Offering. Mauris Family Investments Ltd. (“MaurisCo”) and 603908 BC Ltd. (“KayatCo”) are collectively referred to herein as the “Selling Shareholders”.\n \n\n Gary Mauris, Executive Chairman and CEO, commented, “DLCG has been built by forging strong partnerships; partnerships with owners, brokers, lenders and employees. Today, we are announcing a small sale of shares by Chris and I to make room for a few select shareholders who we believe will make good long term partners as DLCG continues to grow. We will continue to hold more than 50% of the outstanding shares and remain fully committed to stewarding DLCG. We look forward to completing the transaction and welcoming our new institutional shareholders to DLCG.”\n \n\n Prior to the Offering, MaurisCo beneficially owns or controls, directly or indirectly, an aggregate of 23,979,733 class “A” common shares, representing approximately 30.5% of the total issued and outstanding class “A” common shares. Prior to the Offering, KayatCo beneficia...

More updates from Dominion Lending Centres, Inc. (canada) Class A