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Gibson Energy Announces Closing of $403 Million Bought Deal Offering of Subscription Receipts and Exercise of Over-Allotment Option
Gibson Energy Announces Closing of $403 Million Bought Deal Offering of Subscription Receipts and...
About this update from Gibson Energy Inc.
[{"type":"text","content":"\n \n \n \n Gibson Energy Announces Closing of $403 Million Bought Deal Offering of Subscription Receipts and Exercise of Over-Allotment Option\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 22, 2023\n \n \n /CNW/ - Gibson Energy Inc. (\"Gibson\" or the \"Company\") (TSX: GEI) is pleased to announce the closing of its previously announced bought deal offering (the \"Equity Offering\") of subscription receipts (\"Subscription Receipts\"). Pursuant to the Equity Offering, Gibson issued a total of 20,010,000 Subscription Receipts, including 2,610,000 Subscription Receipts issued pursuant to the exercise in full by the underwriters of their over-allotment option. The Subscription Receipts were issued at an offering price of\n \n $20.15\n \n per Subscription Receipt for total gross proceeds of approximately\n \n $403 million\n \n .\n \n \n \"The successful closing of the Equity Offering, including the exercise of the over-allotment option, reflects strong investor support for the on-strategy acquisition of the South Texas Gateway Terminal,\" said\n \n Sean Brown\n \n , Senior Vice President and Chief Financial Officer. \"Pro forma the transaction, Gibson maintains its industry leading balance sheet and is well positioned to create long-term growth and value for all our stakeholders.\"\n \n \n Each Subscription Receipt will entitle the holder to receive, without payment of additional consideration and without further action, one common share of Gibson (a \"Common Share\") upon the closing of the Transaction (as defined below), together with a dividend equivalent payment in an amount per Subscription Receipt, as applicable, equal to the amount per Common Share of any cash dividends declared by the board of directors of Gibson on the Common Shares to holders of record on a date during the period from, and including, the date hereof to, but excluding...