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GFL Environmental Inc. Announces Launch of its Initial Public Offering and Concurrent Offering of Tangible Equity Units
GFL Environmental Inc. Announces Launch of its Initial Public Offering and Concurrent Offe...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n\n\n\nGFL Environmental Inc. Announces Launch of its Initial Public Offering and Concurrent Offering of Tangible Equity Units\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\nTORONTO, Feb. 25, 2020\n\n\n\nTORONTO, Feb. 25, 2020 /CNW/ - GFL Environmental Inc. (\"GFL\") today announced the launch of its initial public offering of 73,170,733 subordinate voting shares and its concurrent offering of 14,000,000 tangible equity units (\"Units\"), with a stated amount of US$50.00 (or C$66.67) per Unit, in each case, pursuant to a registration statement filed with the Securities and Exchange Commission and an amended and restated preliminary base PREP prospectus filed with the securities regulatory authorities in each of the provinces and territories of Canada (the \"Canadian Regulators\").  The initial public offering price for the subordinate voting shares is expected to be between US$20.00 and US$21.00 (or C$26.66 and $28.00) per share.  \n\n \n \n\n \nGFL expects to grant the underwriters in the subordinate voting share offering a 30-day option to purchase up to an additional 10,975,609 subordinate voting shares to cover over-allotments, if any.  GFL also expects to grant the underwriters in the Unit offering a 13-day option to purchase up to an additional 2,100,000 Units to cover over-allotments, if any.\nThe subordinate voting shares have been approved for listing on the New York Stock Exchange under the symbol \"GFL\" and have been conditionally approved for listing on the Toronto Stock Exchange under the symbol \"GFL\". GFL has applied to list the Units on the New York Stock Exchange under the symbol \"GFLU\", subject to satisfaction of minimum listing standards with respect to the Units. \nGFL intends to use the net proceeds from the offering to redeem all of its outstanding 5.625% senior notes due 2022, all of its 5.375% senior notes due 2023, US$270.0 million aggregate principal amount of its 7.000% senior notes due 2026 and US$240.0 million aggregate principal amount of its 8.500% senior notes due 2027, to pay related fees, premiums ...