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GFL Environmental Inc. Prices US$2.2 Billion IPO and Concurrent Offering of Tangible Equity Units
GFL Environmental Inc. Prices US$2.2 Billion IPO and Concurrent Offering of Tangible Equit...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n\n\n\nGFL Environmental Inc. Prices US$2.2 Billion IPO 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, March 3, 2020\n\n\n\nTORONTO, March 3, 2020 /CNW/ - GFL Environmental Inc. (\"GFL\") announced the pricing of its initial public offering of 75,000,000 subordinate voting shares, which includes 1,638,158 subordinate voting shares to be sold by a selling shareholder, at a price to the public of US$19.00 (or C$25.33) per share and its concurrent offering of 15,500,000 of its 6.00% tangible equity units (\"Units\"), with a stated amount of US$50.00 (or C$66.67) per Unit.  GFL has granted the underwriters in the subordinate voting share offering a 30-day option to purchase up to an additional 11,250,000 subordinate voting shares at the initial public offering price less underwriting discounts and commissions to cover over-allotments, if any. GFL has also granted the underwriters in the Unit offering a 13-day option to purchase up to an additional 2,325,000 Units at the public offering price less underwriting discounts and commissions to cover over-allotments, if any. The offerings are expected to close on March 6, 2020, subject to the satisfaction of customary closing conditions.  \n\n \n \n \n \n \n \n\n \nGFL's subordinate voting shares are expected to begin trading on the New York Stock Exchange and the Toronto Stock Exchange on an \"if, as and when issued basis\" on March 3, 2020 under the symbol \"GFL\".  The Units are expected to begin trading on an \"if, as and when issued\" basis on the New York Stock Exchange on March 3, 2020 under the symbol \"GFLU\".\nEach Unit will consist of a prepaid stock purchase contract and a senior amortizing note due March 15, 2023. Unless earlier settled, each stock purchase contract will automatically settle on March 15, 2023 (subject to postponement in limited circumstances) for between 2.1930 and 2.6316 subordinate voting shares per purchase contract, subject to adjustment, based on the applicable market value of the subordinate voting ...