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OpenText Announces the Pricing of its Public Offering of U.S. $564 million of Common Shares
OpenText Announces the Pricing of its Public Offering of U.S. $564 million of Common Share...
About this update from Open Text Corporation
[{"type":"text","content":"\n\n\n\nOpenText Announces the Pricing of its Public Offering of U.S. $564 million of Common Shares\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\nOpenText Announces the Pricing of its Public Offering of U.S. $564 million of Common Shares\nCanada NewsWire\nWATERLOO, Ontario, Dec. 13, 2016\n\n\n\nWATERLOO, Ontario, Dec. 13, 2016 /CNW/ -- Open Text Corporation (NASDAQ: OTEX) (TSX: OTC) (\"OpenText\" or the \"Company\") announced today that it has priced an underwritten public offering of 9,250,000 common shares (the \"Offering\").  The Offering was priced at a public offering price of U.S. $61.00 per share.  The Company granted the underwriters a 30-day option to purchase up to an additional 1,387,500 common shares to cover over-allotments, if any.  The Offering is expected to close on December 19, 2016, subject to customary closing conditions.\n\nOpenText intends to use the net proceeds from the Offering to finance a portion of the purchase price for its previously announced acquisition of Dell EMC's Enterprise Content Division (the \"Acquisition\"). OpenText expects to fund the balance of the purchase price and pay related fees and expenses with the net proceeds from debt financing and cash on hand.  The terms of any debt financing, which may include the issuance of new senior notes or the reopening of existing senior notes and/or borrowing under our existing or new credit facilities, have not been established at this time. The Offering is not contingent on the closing of the Acquisition or any debt financing.  If for any reason the Acquisition does not close, OpenText intends to use the net proceeds from the Offering for general corporate purposes, which may include the financing of future acquisitions and the repayment of existing indebtedness.\n\nBarclays, Citigroup and RBC Capital Markets are acting as the joint book-running managers and BMO Capital Markets, CIBC Capital Markets, HSBC, MUFG, National Bank Financial Markets, PNC Capital Markets LLC, Raymond James and Scotiabank are acting as the co-managers for the Of...