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Restaurant Brands International Inc. Announces Upsize and Pricing of Secondary Offering of Common Shares
Restaurant Brands International Inc. Announces Upsize and Pricing of Secondary Offering of...
About this update from Restaurant Brands International Lp
[{"type":"text","content":"\n\n\n\nRestaurant Brands International Inc. Announces Upsize and Pricing of Secondary Offering 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\n\nCanada NewsWire\nTORONTO, Aug. 9, 2019\n\n\n\nTORONTO, Aug. 9, 2019 /CNW/ - Restaurant Brands International Inc. (\"RBI\" or the \"Company\") (TSX/NYSE: QSR) announced today that an underwritten registered public offering (the \"offering\") of 24,000,000 common shares commenced by HL1 17 LP, an affiliate of 3G Capital Partners Ltd. (\"3G Capital\"), an increase of 4,000,000 common shares over the amount previously announced, had priced. These common shares relate to the exchange notices received by Restaurant Brands International Limited Partnership (\"RBI LP\") from HL1 17 LP, to exchange an aggregate of 24,000,000 Class B exchangeable limited partnership units (the \"Exchangeable Units\") of RBI LP.  RBI LP intends to satisfy this notice with the delivery of an equal number of common shares (the \"Exchange\"). \n\n \n \n\n \nIn connection with the offering, HL1 17 LP entered into a forward sale agreement with Morgan Stanley (the \"forward counterparty\") with respect to 24,000,000 common shares.  In connection with the forward sale agreement, the forward counterparty or its affiliates are expected to borrow and sell to the underwriter an aggregate of 24,000,000 common shares that will be delivered in this offering.  HL1 17 LP is expected to physically settle the forward sale agreement by delivering to the forward counterparty the common shares received upon the Exchange. Upon settlement of the forward sale agreement, HL1 17 LP will receive, in cash, the public offering price of the 24,000,000 common shares, less underwriting discounts and commissions, subject to certain adjustments as provided in the forward sale agreement.  The settlement of the forward sale agreement and the Exchange is expected to occur on or before August 29, 2019.\nRBI will not sell any common shares in the offering and will not receive any proceeds from the sale of the common shares.  The agg...