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TerraVest Industries Inc. Announces $240 Million Bought Deal Offering of Common Shares
BASE SHELF PROSPECTUS ACCESSIBLE AND PROSPECTUS SUPPLEMENT TO BE ACCESSIBLE WITHIN TWO BUSINESS D...
About this update from Terravest Industries, Inc.
[{"type":"text","content":"TerraVest Industries Inc. Announces $240 Million Bought Deal Offering of Common Shares\n\n\n\n BASE SHELF PROSPECTUS ACCESSIBLE AND PROSPECTUS SUPPLEMENT TO BE ACCESSIBLE WITHIN TWO BUSINESS DAYS ON SEDAR+\n \n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.\n \n\n TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- TerraVest Industries Inc. (TSX:TVK) (“TerraVest” or the “Company”) is pleased to announce it has entered into an agreement to sell, on a bought deal basis, 1,500,000 common shares (the “Shares”) from treasury to a syndicate of underwriters (the “Underwriters”) with National Bank Financial Markets, Canaccord Genuity, and Desjardins Capital Markets acting as Co-Bookrunners. The Shares will be offered at a price of $160.30 per Share (the “Offering Price”), for gross proceeds to the Company of approximately $240,450,000 (the “Offering”).\n \n\n The Company has also granted the Underwriters an option to purchase up to an additional 225,000 Shares, representing 15% of the size of the Offering (the “Over-Allotment Option”), on the same terms and conditions, exercisable in whole or in part, up to 30 days after the closing of the Offering. If the Over-Allotment Option is exercised in full, the Company will receive additional gross proceeds of $36,067,500, for aggregate gross proceeds from the Offering of $276,517,500.\n \n\n As the Company continues to pursue acquisition opportunities, it wishes to maintain flexibility to take advantage of these opportunities should the situation warrant. 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 \"Following the recent acquisitions, the successful completion of the Offering will further strengthen our balance sheet and position us favorably to continue investing in and improving our current portfolio, while continuing to pursue our long-term strategy for acquisitions,” said Dustin Haw, CEO of TerraVest.\n \n\n The Shares will be offered in each of the provinces of Canada by way of a prospectus supplement (the “Prospectus Supplement”) to the short form base shelf prospectus...