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Neo Performance Materials Announces Completion of $100.66 Million Bought Deal Treasury and Secondary Offering of Common Shares
Neo Performance Materials Announces Completion of $100.66 Million Bought Deal Treasury an...
About this update from Neo Performance Materials, Inc.
[{"type":"text","content":"\n \n \n \n Neo Performance Materials Announces Completion of $100.66 Million Bought Deal Treasury and Secondary Offering of Common Shares\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 /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n TORONTO\n \n ,\n \n Nov. 16, 2021\n \n /CNW/ - Neo Performance Materials Inc. (\"\n \n Neo\n \n \", the \"\n \n Company\n \n \") (TSX: NEO) is pleased to announce that it has completed the previously announced treasury and secondary offering (the \"\n \n Offering\n \n \") of common shares of the Company (the \"\n \n Common Shares\n \n \") (see press release dated\n \n October 25\n \n , 2021).  The Company issued and sold from treasury an aggregate of 2,598,000 Common Shares at a price of\n \n $19.25\n \n per share for total gross proceeds to the Company of approximately\n \n $50.01 million\n \n .  A fund managed by Oaktree Capital Management, L.P. (\"\n \n Oaktree\n \n \" or the \"\n \n Selling Shareholder\n \n \") sold an aggregate of 2,631,000 Common Shares under the Offering at a price of\n \n $19.25\n \n per share for total gross proceeds to the Selling Shareholder of approximately\n \n $50.65 million\n \n , including the exercise of the over-allotment option.\n \n \n The Offering was made, on a bought deal basis, pursuant to an underwriting agreement dated\n \n October 29, 2021\n \n among the Company, the Selling Shareholder and Paradigm Capital Inc. and Canaccord Genuity Corp., as lead underwriters, and Cormark Securities Inc., Raymond James Ltd., Scotia Capital Inc. and Stifel Nicolaus Canada Inc. (collectively, the \"\n \n Underwriters\n \n \").\n \n \n Following completion of the Offering, the Selling Shareholder holds an aggregate of 9,878,155 Common Shares, representing approximately 24.3% of the issued and outstanding Common Shares.  Each of the directors and executive officers of the Company and the Selling Shareholder and its affiliates have agreed with the Underwriters that th...