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Xebec Closes Previously Announced Upsized Public Offering and Concurrent Private Placement
Xebec Closes Previously Announced Upsized Public Offering and Concurrent Private Placement.
About this update from Xebec Adsorption Inc.
[{"type":"text","content":"\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES         ALL FIGURES IN CANADIAN DOLLARS UNLESS OTHERWISE STATED MONTREAL, Dec. 30, 2020 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (“Xebec” or the “Corporation”), a global provider of clean energy solutions, is pleased to announce that it has closed its previously announced upsized bought deal public offering (the “Public Offering”) of subscription receipts (the “Subscription Receipts”) for gross proceeds of $143,751,840, which includes the full exercise of the over-allotment option by the Underwriters (as defined below). Xebec is also pleased to announce that it has closed the previously announced upsized concurrent private placement (the “Concurrent Private Placement”) of subscription receipts (the “Placement Subscription Receipts”) with Caisse de dépôt et placement du Québec (“CDPQ”) for gross proceeds of $63,250,009, which includes the full exercise of the private placement option by CDPQ. The Subscription Receipts were offered by way of a short form prospectus dated December 21, 2020, in all of the provinces of Canada. The Public Offering was completed through a syndicate of underwriters co‐led by Desjardins Capital Markets and TD Securities Inc. acting as joint bookrunners, and including National Bank Financial Inc., Canaccord Genuity Group Inc., Raymond James Ltd., Beacon Securities Limited and Stifel Nicolaus Canada Inc. (collectively the “Underwriters”), which purchased, on a bought deal basis, an aggregate of 24,784,800 Subscription Receipts at a price of $5.80 per Subscription Receipt. The Underwriters are entitled to a cash commission calculated on the basis of the aggregate gross proceeds raised under the Public Offering, the whole as further detailed in the final prospectus of Xebec dated December 21, 2020 (the “Prospectus”). Xebec also completed the upsized Concurrent Private Placement whereby CDPQ purchased, on a private placement basis, 10,905,174 Placement Subscription Receipts at a price of $5.80 per Placement Subscription Receipt. The Subscription Receipts sold pursuant to the Concurrent Private Placement (and the underlying com...