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Polaris Infrastructure Announces Closing of C$51 Million Bought Deal Equity Offering Including Exercise in Full of Over-Allotment Option
Polaris Infrastructure Announces Closing of C$51 Million Bought Deal Equity Offering Incl...
About this update from Polaris Renewable Energy Inc.
[{"type":"text","content":"\n \n \n \n Polaris Infrastructure Announces Closing of C$51 Million Bought Deal Equity Offering Including Exercise in Full of Over-Allotment Option\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 /NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n ,\n \n Feb. 25, 2021\n \n /CNW/ - Polaris Infrastructure Inc. (\"Polaris Infrastructure\" or the \"Company\") (TSX: PIF) is pleased to announce that it has closed its previously announced offering of 2,556,450 common shares (the \"Common Shares\") of Polaris Infrastructure at a price of\n \n C$20.25\n \n per Share for aggregate gross proceeds to the Company of\n \n C$51,768,112.50\n \n , including the full exercise by the Underwriters (defined below) of the over-allotment option (the \"Offering\"). The Offering was made pursuant to a final short form prospectus dated\n \n February 18, 2021\n \n in each of the provinces of\n \n Canada\n \n other than Québec.\n \n \n \n \n \n \n \n \n \n The Company intends to use the net proceeds of the Offering to fund strategic growth initiatives, which may include acquiring additional projects or businesses or further developing the Company's existing projects. The purpose of the Offering is to strengthen the Company's financial position in order to have ready access to additional capital for deployment, as previously unknown strategic growth initiatives arise from time to time.\n \n \n The Common Shares were offered by Cormark Securities Inc., Clarus Securities Inc., Raymond James Ltd., iA Private Wealth Inc. and Beacon Securities Limited (collectively, the \"Underwriters\").\n \n \n This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in\n \n the United States\n \n , nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities issued pursuant to the Offering have not been, and will not be registered under ...