Business
TransForce Inc. Completes $41.2 Million Bought-Deal Equity Financing and $8.3 Million Concurrent Private Placement
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\nDISSEMINATION IN THE UNITED STATES/\n\n- Over-allotment option exercised in full by underwriters\n\n\nMONTREAL, Aug. 13 /CNW Telbec/ - TransForce Inc. (TSX: TFI) announced\ntoday that it has completed its previously announced bought-deal public\noffering by issuing 7,040,000 common shares, at a price of $5.85 per share,\nfor gross proceeds to TransForce of $41,184,000.\n\n\nThe 7,040,000 common shares were sold to a syndicate of underwriters\nco-led by National Bank Financial Inc. and Scotia Capital Inc., acting as\njoint book-runners, and including BMO Capital Markets, RBC Dominion Securities\nInc. and Cormark Securities Inc. The 7,040,000 shares sold today included\n640,000 shares issued by TransForce upon the exercise in full by the\nunderwriters of an over-allotment option, solely to cover over-allotments and\nfor market stabilization purposes.\n\n\nTransForce also announced today that it has completed its previously\nannounced private placement with Jolina Capital Inc., its principal\nshareholder, pursuant to which Jolina purchased, concurrent with the closing\nof the bought-deal offering, a further 1,423,840 common shares from TransForce\nin order to maintain its ownership level of the outstanding shares of\nTransForce of approximately 16.82%. Jolina purchased the shares at the\nbought-deal offering price of $5.85 per share, for proceeds to TransForce of\n$8,329,464.\n\n\nThe net proceeds of the offering and concurrent private placement to\nJolina will be used by TransForce to reduce indebtedness and for general\ncorporate purposes.\n\n\nThis press release shall not constitute an offer to sell or the\nsolicitation of an offer to buy any securities in any jurisdiction. The shares\noffered have not been and will not be registered under the U.S. Securities Act\nof 1933 or state securities laws. Accordingly, the shares may not be offered\nor sold to U.S. persons except pursuant to applicable exemptions from\nregistration.\n\n\nProfile\n\n\nTransForce Inc. (www.transforce.ca) is the leader in Canada's\ntransportation and logistics industry. Headquartered in Montreal, Quebec,\nTransForce creates value for shareholders through managing and investing in a\ngrowing network of wholly-owned, operating subsidiaries. TransForce provides a\ncomprehensive and unique...