Business
GFL Environmental Inc. Announces a US$594 million Secondary Offering of Subordinate Voting Shares
GFL Environmental Inc. Announces a US$594 million Secondary Offering of Subordinate Votin...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n \n \n \n GFL Environmental Inc. Announces a US$594 million Secondary Offering of Subordinate Voting Shares\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VAUGHAN, ON\n \n ,\n \n April 12, 2021\n \n /CNW/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (\"GFL\" or the \"Company\") today announced that certain entities affiliated with BC Partners Advisors L.P., Ontario Teachers' Pension Plan Board, GIC Private Limited and HPS Investment Partners, LLC (collectively, the \"Selling Shareholders\"), have entered into an agreement with BMO Capital Markets, RBC Capital Markets and Scotiabank (collectively, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase on a bought deal basis an aggregate of 17,500,000 subordinate voting shares (the \"Shares\") held by the Selling Shareholders at an offering price of\n \n US$33.95\n \n per Share (the \"Offering Price\") for total gross proceeds to the Selling Shareholders of\n \n US$594,125,000\n \n (the \"Offering\"). GFL will not receive any proceeds from the Offering.\n \n \n The Underwriters have also been granted an over-allotment option (the \"Over-Allotment Option\") to purchase up to an additional 2,625,000 Shares from the Selling Shareholders at the Offering Price for additional gross proceeds of\n \n US$89,118,750\n \n if the Over-Allotment Option is exercised in full. The Over-Allotment Option can be exercised at any time, in whole or in part, for a period of 30 days from the closing date of the Offering, which is expected to occur on or about\n \n April 23, 2021\n \n and is subject to certain customary closing conditions.\n \n \n The Shares issued pursuant to the Offering and Over-Allotment Option will be offered in all provinces and territories of\n \n Canada\n \n by way of a prospectus supplement (the \"Prospectus Supplement\") to a short form base shelf prospectus (the \"Final Base Shelf Prospectus\"). The Company has filed a registration statement on Form F-10 (the \"Form F-10\"), and will file the Prospectus Supplement, with the U.S. Sec...