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TerraVest Industries Inc. Announces Increase to Previously Announced Bought Deal Offering of Common Shares From $240 Million to $279 Million
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 Increase to Previously Announced Bought Deal Offering of Common Shares From $240 Million to $279 Million\n\n\n\n BASE SHELF PROSPECTUS ACCESSIBLE AND PROSPECTUS SUPPLEMENT TO BE ACCESSIBLE WITHIN TWO BUSINESS DAYS OF THE ANNOUNCEMENT OF THE OFFERING 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 16, 2025 (GLOBE NEWSWIRE) -- TerraVest Industries Inc. (TSX:TVK) (“TerraVest” or the “Company”) is pleased to announce, that as a result of strong investor demand, it has entered into a revised agreement to increase the size of its previously announced bought deal treasury offering. Under the revised agreement, the Company has agreed to sell, on a bought deal basis, 1,740,000 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 $278,922,000 (the “Offering”).\n \n\n The Company has also granted the Underwriters an option to purchase up to an additional 261,000 Shares, representing approximately 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 $41,838,300, for aggregate gross proceeds from the Offering of $320,760,300.\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 (the “Shelf Prospectus”) of the Company dated May 8, 2024, and may be offered in the United States on a private placement basis by way of a confidential offering memorandum pursuant to certain exemptions from the registration requirements of the\n \n United States Securities Act of 1933\n \n , as amended (the “U.S. Securities Act”).\n \n\n The use of proceeds from the Offering will remain ...