Business
Quarterhill Announces Completion of $57.5 Million Bought Deal Public Offering of Convertible Debentures
Quarterhill Announces Completion of $57.5 Million Bought Deal Public Offering of Converti...
About this update from Quarterhill Inc
[{"type":"text","content":"\n \n \n \n Quarterhill Announces Completion of $57.5 Million Bought Deal Public Offering of Convertible Debentures\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 PR Newswire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n TORONTO\n \n ,\n \n Oct. 27, 2021\n \n /PRNewswire/ - Quarterhill Inc. (\"Quarterhill\" or the \"Company\") (TSX: QTRH) (OTCQX: QTRHF), is pleased to announce that it has completed its previously announced offering (the \"Offering\") of 6.00% convertible unsecured subordinated debentures (the \"Debentures\") due\n \n October 30, 2026\n \n , at a price of\n \n $1,000\n \n per Debenture for total gross proceeds of\n \n $57,500,000\n \n , which included the full exercise of the over-allotment option by the underwriters.\n \n \n The Offering was completed on a bought deal basis by a syndicate of underwriters led by Raymond James Ltd., and including Canaccord Genuity Corp., CIBC World Markets Inc., Cormark Securities Inc., ATB Capital Markets Inc., M Partners Inc. and Stifel Nicolaus Canada Inc. The Debentures are expected to be listed on the TSX under the symbol \"QTRH.DB\" on\n \n October 27, 2021\n \n .\n \n \n The net proceeds from the Convertible Debenture Financing will be used to support Quarterhill's growth through potential acquisitions and to provide additional working capital to support the continued operations of the Company's business.\n \n \n The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\"), and may not be offered or sold within\n \n the United States\n \n or to or for the account or benefit of a U.S. Person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available. This press release shall not constitute an offer to sell or the solicitation of an offer to bu...