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National Bank announces closing of previously announced public offering and concurrent private placement of subscription receipts
National Bank announces closing of previously announced public offering and concurrent private pl...
About this update from National Bank Of Canada
[{"type":"text","content":"\n \n \n \n National Bank announces closing of previously announced public offering and concurrent private placement of subscription receipts\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 \n /Not for distribution to U.S. news wire services or for dissemination in\n \n the United States\n \n /\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n June 17, 2024\n \n \n /CNW/ - National Bank of\n \n Canada\n \n (\"National Bank\") (TSX: NA) today announced that it has closed its previously announced public offering (the \"Public Offering\") and concurrent private placement (the \"Private Placement\") of subscription receipts (the \"Subscription Receipts\") for gross proceeds totaling approximately\n \n $1.0 billion\n \n . The Subscription Receipts sold pursuant to the Public Offering will commence trading on the Toronto Stock Exchange today under the ticker symbol NA.R.\n \n \n \n \n \n \n \n \n \n Pursuant to the Public Offering, National Bank issued and sold to a syndicate of underwriters (the \"Underwriters\") led by National Bank Financial Inc. (\"NBF\") 4,453,000 Subscription Receipts at a price of\n \n $112.30\n \n (the \"Issue Price\") for total gross proceeds of approximately\n \n $500 million\n \n . The Public Offering was underwritten on a bought-deal basis by the Underwriters led by NBF. The Subscription Receipts sold in the Public Offering were issued under a prospectus supplement dated\n \n June 12, 2024\n \n , to National Bank's short form base shelf prospectus dated\n \n August 22, 2022\n \n .\n \n \n National Bank has granted the Underwriters an option (the \"Over-Allotment Option\") to purchase up to an additional 667,950 Subscription Receipts at the Issue Price exercisable up to 30 days after the date hereof.\n \n \n Pursuant to the concurrent Private Placement, National Bank issued 4,453,000 Subscription Receipts at the Issue Price to CDPQ Marchés boursiers inc, an affiliate of the Caisse de dépôt et placement du Québec (\"CDPQ\") for gross proceeds of approximate...