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Interfor Announces $125 Million Bought Deal Offering of Common Shares
Interfor Announces $125 Million Bought Deal Offering of Common Shares Canada NewsWire ...
About this update from Interfor Corporation
[{"type":"text","content":"\n\n\n\n Interfor Announces $125 Million Bought Deal Offering of Common 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Base shelf prospectus is accessible, and prospectus supplement will be accessible within two business days, on SEDAR+\n \n\n\n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n BURNABY, BC\n \n\n ,\n \n\n Sept. 25, 2025\n \n\n /CNW/ -\n \n INTERFOR CORPORATION\n \n (\"Interfor\" or the \"Company\") (TSX: IFP) announced today that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and Scotiabank (collectively, the \"Underwriters\"), under which the Underwriters have agreed to purchase, on a bought deal basis, 12,437,800 common shares of the Company (the \"Common Shares\"), at a price of\n \n $10.05\n \n per Common Share (the \"Offering Price\") for gross proceeds of\n \n $125 million\n \n (the \"Offering\").\n \n\n The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Common Shares at the Offering Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering (the \"Over-Allotment Option\"). If the Over-Allotment Option is exercised in full,\n \n $18\n \n .75 million of additional proceeds would be raised pursuant to the Offering and the aggregate proceeds of the Offering would be approximately\n \n $143\n \n .75 million.\n \n\n The Company intends to use the net proceeds of the Offering to pay down existing indebtedness and for general corporate purposes.\n \n\n Since Interfor reported its second quarter results on\n \n August 7, 2025\n \n , lumber markets have weakened significantly as reflected in a 16% decline in the Framing Lumber Composite benchmark price. At the same time, the softwood lumber duty cash deposit rate imposed by ...