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Stack Capital Group Inc. Completes Previously Announced Initial Public Offering of Units and Management Investment for Total Gross Proceeds of $107 Million
Stack Capital Group Inc. Completes Previously Announced Initial Public Offering of Units ...
About this update from Stack Capital Group, Inc.
[{"type":"text","content":"\n \n \n \n Stack Capital Group Inc. Completes Previously Announced Initial Public Offering of Units and Management Investment for Total Gross Proceeds of $107 Million\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 \n /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n TORONTO\n \n ,\n \n June 16, 2021\n \n /CNW/ - Stack Capital Group Inc. (\"Stack Capital\") (TSX: STCK and STCK.WT) is pleased to announce that it has closed its previously announced public offering (the \"Offering\") of 8,335,000 units of Stack Capital (\"Units\") at a price of\n \n $12\n \n .00 per Unit (the \"Offering Price\") for aggregate gross proceeds of\n \n $100,020,000\n \n . Each Unit consists of one common share (a \"Common Share\") in the capital of Stack Capital and one-half of a Common Share purchase warrant (an \"IPO Warrant\"). Each IPO Warrant entitles the holder to acquire, subject to adjustment in certain circumstances, one Common Share at an exercise price per share of\n \n $15.00\n \n , at any time prior to\n \n 4:00 p.m.\n \n (\n \n Toronto, Ontario\n \n time) on\n \n June 16, 2024\n \n , the date that is three years following the closing of the Offering (the \"Closing\"). The Units immediately separated into Common Shares and IPO Warrants upon issuance. The Units were issued pursuant to Stack Capital's prospectus dated\n \n June 9, 2021\n \n (the \"Prospectus\").\n \n \n \n \n \n \n \n \n \n The Offering was conducted on a best efforts basis by a syndicate of agents (the \"Agents\") bookrun by TD Securities Inc., RBC Capital Markets, and Scotiabank pursuant to the terms and conditions of an agency agreement between Stack Capital, SC Partners Ltd., the manager of Stack Capital (the \"Manager\"), and the Agents. Stack Capital granted the Agents an over-allotment option, exercisable in whole or in part at any time for a period of 30 days after the Closing, to purchase up to an additional 15% of the agg...