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Mullen Group Ltd. Closes $110.0 Million Bought Deal Offering of 5.75% Convertible Debentures and Announces Increase to Bank Credit Facility
Mullen Group Ltd. Closes $110.0 Million Bought Deal Offering of 5.75% Convertible Debentur...
About this update from Mullen Group Ltd.
[{"type":"text","content":"\n\n\n\nMullen Group Ltd. Closes $110.0 Million Bought Deal Offering of 5.75% Convertible Debentures and Announces Increase to Bank Credit Facility\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 21, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./\n OKOTOKS, AB, June 21, 2019 /CNW/ - (TSX: MTL)  Mullen Group Ltd. (\"Mullen Group\" and/or the \"Corporation\") announced today that it closed its previously announced offering, on a \"bought deal\" basis, of $110,000,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures (the \"Debentures\") due November 30, 2026 (the \"Offering\"). The Debentures are convertible, at the option of the holder, into common shares (the \"Common Shares\") of Mullen Group at a conversion price of $14.00 per Common Share.  \nThe Offering was led by a syndicate of underwriters consisting of RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc., as co-lead underwriters, and also included TD Securities Inc., National Bank Financial Inc., Raymond James Ltd., Industrial Alliance Securities Inc. and Peters & Co. Limited (collectively, the \"Underwriters\"). \nMullen Group has granted the Underwriters an over-allotment option exercisable in whole or in part, at the sole discretion of the Underwriters, at any time up to 30 days after closing of the Offering, to acquire up to an additional $15,000,000 aggregate principal amount of Debentures. \nThe Offering was made pursuant to a final short form prospectus dated June 17, 2019 and filed in each of the provinces of Canada, other than Quebec. The Debentures will commence trading today on the Toronto Stock Exchange under the symbol \"MTL.DB\". \nBank Credit Facility Amendment\nMullen Group also announced today that it entered into an agreement to amend the amount available to be borrowed on its credit facility with the Royal Bank of Canada (the \"Bank Credit Facility\").  The amount available to be borrowed on the Ban...