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Extendicare Completes Previously Announced $200 Million Private Placement of Common Shares
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About this update from Extendicare Inc.
[{"type":"text","content":"Extendicare Completes Previously Announced $200 Million Private Placement of Common Shares\n\n\n\n\n Not for distribution to U.S. news wire services or dissemination in the United States.\n \n\n\n MARKHAM, Ontario, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Extendicare Inc. (“\n \n Extendicare\n \n ” or the “\n \n Company\n \n ”) (TSX: EXE) announced today that it has completed its previously announced “bought deal” private placement (the “\n \n Private Placement\n \n ”) of common shares of the Company (the “\n \n Offered Shares\n \n ”). Pursuant to the Private Placement, the Company issued an aggregate of 10,640,000 Offered Shares at an issue price of $18.80 per Offered Share, for gross proceeds of approximately $200 million.\n \n\n The Private Placement was co-led by CIBC Capital Markets, as sole bookrunner, and BMO Capital Markets, on behalf of a syndicate of underwriters that included National Bank Financial Inc., RBC Capital Markets, TD Securities Inc., ATB Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc. and Desjardins Securities Inc. (collectively, the “\n \n Underwriters\n \n ”).\n \n\n The Company intends to use the proceeds from the Private Placement (net of Underwriters’ fees and expenses) of approximately $192 million to partially fund the previously announced acquisition by the Company’s wholly-owned home health care subsidiary, ParaMed Inc., of all of the equity interests of CBI Home Health LP and CBI (GP) 3 Inc. and their respective subsidiaries (collectively, “\n \n CBI Home Health\n \n ”), from CBI Health LP and CBI GP Holdco Inc. (the “\n \n Acquisition\n \n ”).\n \n\n The Offered Shares were offered by way of private placement to “accredited investors” in all provinces of Canada and in the United States on a private placement basis to “qualified institutional buyers” pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the “\n \n U.S. Securities Act\n \n ”). The Offered Shares are subject to a four-month hold period under applicable securities laws in Canada.\n \n\n In connection with closing of the Private Placement, the previously announced $150 million equity bridge facility entered into by the Company to backstop ...