Business
Exchange Income Corporation Closes $80 Million Bought Deal Financing of Common Shares
Exchange Income Corporation Closes $80 Million Bought Deal Financing of Common Shares ...
About this update from Exchange Income Corporation
[{"type":"text","content":"\n\n\n\nExchange Income Corporation Closes $80 Million Bought Deal Financing of Common Shares\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\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, Oct. 29, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n WINNIPEG, Oct. 29, 2019 /CNW/ - Exchange Income Corporation (TSX: EIF) (the \"Corporation\") announced today that it has closed its previously announced bought deal public offering (the \"Offering\") of 2,139,000 common shares (the \"Shares\") from treasury through a syndicate of underwriters co-led by CIBC World Markets Inc., National Bank Financial Inc. and Laurentian Bank Securities Inc., and including Raymond James Ltd., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Wellington-Altus Private Wealth Inc., Industrial Alliance Securities Inc., AltaCorp Capital Inc. and Cormark Securities Inc. (the \"Underwriters\"). The Shares were issued at a price of $37.65 per Share, for gross proceeds to the Corporation of $80,533,350. This amount includes 279,000 Shares issued at the same price for gross proceeds of $10,504,350 on the exercise of the entire over-allotment option granted to the Underwriters. \nMichael Pyle, Chief Executive Officer of the Corporation, stated: \"We are pleased that the full overallotment of the offering was exercised, evidencing the strong market demand for EIC's securities and our continued access to capital.\"\nThe net proceeds of the Offering will be used to repay indebtedness under the credit facilities of the Corporation, including indebtedness incurred on October 4, 2019 to fund the cash portion of the purchase price for the Corporation's previously announced acquisition of L.V. Control Mfg. Ltd. and indebtedness incurred on October 17, 2019 to fund the cash portion of the purchase price for the Corporation's previously acquisition of Advanced Window, Inc.\nAbout Exchange Income Corporation                
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