Business
K-Bro Linen Inc. Announces Closing of $34,533,810 Equity Offering
K-Bro Linen Inc. Announces Closing of $34,533,810 Equity Offering Canada NewsWire ...
About this update from K-bro Linen Inc.
[{"type":"text","content":"\n\n\n\nK-Bro Linen Inc. Announces Closing of $34,533,810 Equity Offering\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\nEDMONTON, Dec. 12, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n(TSX: KBL)\n\n\n\nEDMONTON, Dec. 12, 2017 /CNW/ - K-Bro Linen Inc. (\"K-Bro\") announced today the closing of its previously announced offering of 924,600 common shares of K-Bro (the \"Shares\"), which includes the exercise in full of an over-allotment option granted by K-Bro to the Underwriters, at a price of $37.35 per Share for gross proceeds of $34,533,810 (the \"Offering\").  The Offering was conducted on a bought deal basis by a syndicate of underwriters led by TD Securities Inc. and including Acumen Capital Finance Partners Limited, GMP Securities L.P., National Bank Financial Inc., Cormark Securities Inc., Laurentian Bank Securities Inc. and Echelon Wealth Partners Inc. (collectively, the \"Underwriters\")  \n\nThe net proceeds from the Offering will be used to partially pay down indebtedness that has been incurred under K-Bro's amended $100 million senior secured revolving credit facility to fund the previously announced acquisition of Fishers Topco Ltd.\n\nThis press release is not an offer of securities for sale in the United States. The Shares being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act. \n\nCORPORATE PROFILE \n\nK-Bro is the largest owner and operator of laundry and linen processing facilities in Canada. K-Bro provides a comprehensive range of general linen and operating room linen processing, management and distribution services to healthcare institutions, hotels and other commercial accounts....