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K-BRO ANNOUNCES CLOSING OF C$80 MILLION SUBSCRIPTION RECEIPT OFFERING, INCLUDING THE EXERCISE IN FULL OF THE OVER-ALLOTMENT OPTION
K-BRO ANNOUNCES CLOSING OF C$80 MILLION SUBSCRIPTION RECEIPT OFFERING, INCLUDING THE EXERCISE IN ...
About this update from K-bro Linen Inc.
[{"type":"text","content":"\n\n\n\n K-BRO ANNOUNCES CLOSING OF C$80 MILLION SUBSCRIPTION RECEIPT OFFERING, INCLUDING THE EXERCISE IN FULL OF THE 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. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n (TSX:KBL)\n \n\n\n\n EDMONTON, AB\n \n\n ,\n \n\n May 30, 2025\n \n\n /CNW/ - K-Bro Linen Inc. (\"\n \n K-Bro\n \n \" or the \"\n \n Corporation\n \n \") is pleased to announce that it has closed its previously announced bought deal offering of 2,334,500 subscription receipts of the Corporation (\"\n \n Subscription Receipts\n \n \") (including 304,500 Subscription Receipts issued pursuant to the exercise in full by the syndicate of Underwriters (as defined below) of their over-allotment option granted by the Corporation (the \"\n \n Over-Allotment Option\n \n \")) at a price of\n \n C$34.55\n \n per Subscription Receipt, for gross aggregate proceeds of\n \n C$80,656,975\n \n (the \"\n \n Offering\n \n \"). The Subscription Receipts issued pursuant to the Offering will trade on the Toronto Stock Exchange under the ticker symbol KBL.R.\n \n\n The net proceeds from the Offering (including the net proceeds from the exercise in full of the Over-Allotment Option) will be used to (i) finance a portion of the previously announced acquisition of STAR Mayan Limited, a leading commercial laundry business in\n \n England\n \n serving the healthcare and hospitality markets (the \"\n \n Acquisition\n \n \"), and (ii) pay certain fees and expenses related to the Acquisition and Offering.\n \n\n The underwriting syndicate was led by TD Securities Inc. and includes National Bank Financial Inc., Raymond James Ltd., ATB Securities Inc., BMO Nesbitt Burns Inc., CIBC Capital Markets, Acumen Capital Finance Partners Limited, Cormark Securities Inc., Stifel Nicolaus Canada Inc. and Leede Financial Inc. (collectively, the \"\n \n Underwriters\n \n \"). The proceeds from the sale of the Subscription Receipts will be held by a subscr...