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Mullen Group Ltd. Announces C$75 Million Bought Deal Offering of 5.75% Convertible Debentures
Mullen Group Ltd. Announces C$75 Million Bought Deal Offering of 5.75% Convertible Debentu...
About this update from Mullen Group Ltd.
[{"type":"text","content":"\n\n\n\nMullen Group Ltd. Announces C$75 Million Bought Deal Offering of 5.75% Convertible Debentures\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\nCanada NewsWire\nOKOTOKS, AB, June 4, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n OKOTOKS, AB, June 4, 2019 /CNW/ - (TSX:MTL) Mullen Group Ltd. (\"Mullen Group\" or the \"Corporation\") announced today that it has entered into an agreement with a syndicate of underwriters, led by RBC Capital Markets, CIBC Capital Markets and Scotiabank, for the purchase by the underwriters, on a bought deal basis, subject to regulatory approval, of $75,000,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures due November 30, 2026 (the \"Debentures\") (the \"Offering\"). The Debentures are convertible, at the option of the holder, into common shares (the \"Common Shares\") of Mullen Group at $14.00 per common share. Mullen Group has granted an over-allotment option exercisable at any time up to 30 days after closing of the Offering, to acquire additional Debentures up to the lesser of $11,250,000 aggregate principal amount of Debentures and the Underwriters respective \"Over-Allocation Position\" as at the closing date. \nMullen Group will, by June 10, 2019, file with the securities commissions and other similar regulatory authorities in each of the provinces and territories of Canada, except Quebec, a preliminary short form prospectus relating to the issuance of the Debentures. The Offering is expected to close on or about June 21, 2019. Completion of the Offering is subject to certain conditions, including, without limitation, the receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.\nMullen Group intends to use the net proceeds from the Offering for general corporate purposes, which may include future acquisitions in their Trucking/Logistics segment.\nThis news release is not an offer of Debentures for sale in the United States. The Debentures may not...