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Dye & Durham Announces Closing of Approximately $145 Million Bought Deal Including Full Exercise of Over-Allotment Option
Dye & Durham Announces Closing of Approximately $145 Million Bought Deal Including Full Exerc...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham Announces Closing of Approximately $145 Million Bought Deal Including Full Exercise of Over-Allotment Option\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n Dye & Durham Announces Closing of Approximately $145 Million Bought Deal Including Full Exercise of Over-Allotment Option\n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 6, 2024\n \n \n /CNW/ - Dye & Durham Limited (\"\n \n Dye & Durham\n \n \" or the \"\n \n Company\n \n \") (TSX: DND) announced today the closing of its previously announced bought deal offering (the \"\n \n Offering\n \n \") of common shares of the Company (the \"\n \n Common Shares\n \n \"). Pursuant to the Offering, the Company issued a total of 11,960,000 Common Shares at a price of\n \n $12.10\n \n per Common Share for gross proceeds to the Company of approximately\n \n $145 million\n \n , which includes the exercise, in full, by the Underwriters (as defined below) of the over-allotment option granted by the Company to purchase up to an additional 1,560,000 Common Shares at a price of\n \n $12.10\n \n per Common Share.\n \n \n The Offering was conducted through a syndicate of underwriters led by Canaccord Genuity Corp. and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., Cormark Securities Inc., and Raymond James Ltd. (collectively, the \"\n \n Underwriters\n \n \"). Goodmans LLP acted as legal counsel to the Company and Bennett Jones LLP acted as legal counsel to the Underwriters.\n \n \n The Company will use the net proceeds of approximately\n \n $139.5 million\n \n from the Offering to immediately repay the outstanding balance on its revolving credit facility. The balance of the net proceeds may be used to (a) make a partial repayment of its term credit facility; (b) retire a portion of the outstanding convertible debentures due\n \n March 1, 2026\n \n ...