Business
TerraVest Industries Inc. Announces Closing of Upsized Bought Deal Offering of Common Shares and Concurrent Closing of the Over-Allotment Option
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TOR...
About this update from Terravest Industries, Inc.
[{"type":"text","content":"TerraVest Industries Inc. Announces Closing of Upsized Bought Deal Offering of Common Shares and Concurrent Closing of the Over-Allotment Option\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.\n \n\n TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- TerraVest Industries Inc. (TSX:TVK) (“TerraVest” or the “Company”) is pleased to announce that it has closed its previously announced bought deal treasury offering (the “Offering”) and concurrent closing of the exercise in full of the over-allotment option granted to a syndicate of underwriters (the “Underwriters”) with National Bank Financial Markets, Canaccord Genuity, and Desjardins Capital Markets acting as Co-Bookrunners. Pursuant to the Offering, the Company issued an aggregate 2,001,000 common shares (the “Shares”) at a price of $160.30 per share (the “Offer Price”) for gross proceeds of $320,760,300. The gross proceeds include 261,000 Shares issued at the same Offer Price for gross proceeds of $41,838,300 on the exercise in full of the over-allotment option granted to the Underwriters.\n \n\n The net proceeds from the Offering will be initially allocated towards repaying existing debt and supporting general corporate activities, until required for future acquisitions or growth opportunities.\n \n\n ABOUT TERRAVEST INDUSTRIES INC.:\n \n\n TerraVest is a diversified industrial company that manufactures and sells goods and services to a variety of end-markets. The Company is a market-leading manufacturer of home heating products, propane, anhydrous ammonia (“NH3”) and natural gas liquids (“NGL”) transport vehicles and storage vessels, energy processing equipment and fiberglass storage tanks. TerraVest is focused on acquiring and operating market-leading businesses that will benefit from TerraVest’s financial and operational support. For more information on the Company, please visit\n \n https://terravestindustries.com/\n \n . Additional information relating to the Company, including all public filings, is available on SEDAR+ (\n \n www.sedarplus.ca\n \n ).\n \n\n FOR FURTHER INFORMATION, PLEASE CONTACT:\n \n Dustin Haw\n \n Chief Executive Officer\n \n TerraVest Industries Inc.\n \n\n [email protected]\n \n\n\n\...