Goodmans | Jotup

Aterian Investment Partners to Recapitalize CPL, a Leading Pharmaceutical Contract Development and Manufacturing Organization

Retrieved on:

Monday, April 1, 2024

Aterian Investment Partners (“Aterian”), a private investment firm, is pleased to announce that one of its affiliates has entered into an agreement to recapitalize Contract Pharmaceuticals Limited Canada ("CPL" or the “Company”), a leading North American contract development and manufacturing organization (CDMO) of non-sterile liquid and semi-solid dosage forms.

Key Points:

Aterian Investment Partners (“Aterian”), a private investment firm, is pleased to announce that one of its affiliates has entered into an agreement to recapitalize Contract Pharmaceuticals Limited Canada ("CPL" or the “Company”), a leading North American contract development and manufacturing organization (CDMO) of non-sterile liquid and semi-solid dosage forms.
View the full release here: https://www.businesswire.com/news/home/20240401893587/en/
CPL, based in Mississauga, Ontario, Canada, is an industry leader with longstanding relationships with 15 of the top 20 global pharmaceutical companies.
Further, CPL has a tremendous heritage of premier expertise and capabilities to offer customers a one-stop shop for all their development, manufacturing, packaging, and testing needs.
We look forward to working alongside CPL’s stakeholders on the Company’s next stage of growth.”
Kirkland & Ellis LLP, and Osler, Hoskin & Harcourt LLP advised Aterian.

Browning West’s Slate of Highly Qualified Director Candidates Releases Five-Pillar Plan to Enhance Shareholder Value at Gildan Activewear

Retrieved on:

Monday, April 1, 2024

Retail, Professional Services, Fashion, Finance, Sale, News, LLP, Browning, TSX, Goodmans, IMK, Legislation, Annual general meeting

As a reminder, Browning West is seeking to elect eight highly qualified and independent director candidates to Gildan’s Board of Directors at the Annual Meeting of Shareholders on May 28, 2024.

Key Points:

As a reminder, Browning West is seeking to elect eight highly qualified and independent director candidates to Gildan’s Board of Directors at the Annual Meeting of Shareholders on May 28, 2024.
Visit SEDAR+ ( www.sedarplus.ca ) to review a copy of Browning West’s information circular and other relevant materials.
Certain information in this news release may constitute “forward-looking information” within the meaning of applicable securities legislation.
Except as required by law, Browning West does not intend to update these forward-looking statements.

Browning West Contends That Gildan Activewear’s Reactionary Sale Process Underscores Why Immediate Board Reconstitution is Required

Retrieved on:

Wednesday, March 20, 2024

Retail, Professional Services, Fashion, Finance, Sale, News, LLP, Browning, TSX, Goodmans, IMK, Index, Legislation, Annual general meeting

“Since the onset of our campaign, we have maintained that Gildan is a high-quality business with significant latent earnings power and strong value creation potential under the right Board and management.

Key Points:

“Since the onset of our campaign, we have maintained that Gildan is a high-quality business with significant latent earnings power and strong value creation potential under the right Board and management.
We are naturally concerned that the Board has initiated a sale process in order to avoid accountability following continuous and growing support for Browning West’s calls for significant Board reconstitution.
The Board’s reactionary sale process underscores our message to shareholders last week that a meaningful reconstitution of the Board is immediately required, even before the Annual Meeting in May.
Except as required by law, Browning West does not intend to update these forward-looking statements.

Browning West Troubled by the Gildan Activewear Board’s Desperate and Erratic Behavior Following Concerning News About CEO Vince Tyra

Retrieved on:

Friday, March 15, 2024

Retail, Professional Services, Fashion, Finance, Attention, Letter, News, LLP, TSX, Goodmans, IMK, Legislation, Annual general meeting

“It is unfortunate that the Board is acting in a desperate, erratic manner now that its apparent failures of diligence and judgement during last year’s CEO search process have been validated.

Key Points:

“It is unfortunate that the Board is acting in a desperate, erratic manner now that its apparent failures of diligence and judgement during last year’s CEO search process have been validated.
The current Board is also fully aware that shareholders are strongly supportive of Browning West, which explains why the Board is resorting to egregious low-road tactics.
Although Browning West believes that the expectations reflected in any such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct.
Except as required by law, Browning West does not intend to update these forward-looking statements.

Browning West Addresses Recent Media Reports That Highlight the Gildan Activewear Board’s Diligence Failures and Poor Judgement When Appointing Vince Tyra as CEO

Retrieved on:

Wednesday, March 13, 2024

Retail, Professional Services, Fashion, Finance, Failure, Risk, News, LLP, TSX, Goodmans, IMK, Investment, Research report, Legislation

We also question if the Board considered that the historical relationship between these two executives creates undue conflicts and risk for Gildan shareholders and employees.

Key Points:

We also question if the Board considered that the historical relationship between these two executives creates undue conflicts and risk for Gildan shareholders and employees.
No amount of deflecting and downplaying will allow the Board to succeed in sweeping this inexplicable lapse in diligence and judgement under the rug.
To be clear, Browning West had absolutely no role in the independent research report referenced in recent media coverage and will pursue legal action against any parties that claim otherwise.
Except as required by law, Browning West does not intend to update these forward-looking statements.

Browning West Files Lawsuit Against Gildan and Its Board of Directors to Ensure Shareholder Rights Are Protected at the 2024 Annual Meeting

Retrieved on:

Monday, March 11, 2024

Retail, Professional Services, Fashion, Finance, Annual, Annual general meeting, News, LLP, TSX, Goodmans, IMK, Legislation, Superior court, Superior Court of Quebec

We are concerned that the Board will seek to delay the Annual Meeting that has been set for May 28th.

Key Points:

We are concerned that the Board will seek to delay the Annual Meeting that has been set for May 28th.
As such, we are asking that an independent chair be appointed to oversee the Annual Meeting.
The primary objective of this application is to ensure that the Board holds the 2024 Annual Meeting on May 28th without delay and involves an independent third party running the Annual Meeting to ensure a fair and transparent process.
Except as required by law, Browning West does not intend to update these forward-looking statements.

General Atlantic Announces Investment in Plusgrade, Joining Existing Investor CDPQ

Retrieved on:

Monday, March 4, 2024

General Atlantic, a leading global growth investor, today announced a strategic growth investment in Plusgrade, a global leader powering ancillary revenue solutions for the travel industry.

Key Points:

General Atlantic, a leading global growth investor, today announced a strategic growth investment in Plusgrade, a global leader powering ancillary revenue solutions for the travel industry.
With this transaction, Novacap will fully exit its stake in Plusgrade, and existing investor CDPQ will remain a significant shareholder.
General Atlantic intends to partner with Plusgrade to support the company’s continued growth, including through the acceleration of new business segments and go-to-market efforts, strategic M&A opportunities, and key operational initiatives.
Barclays served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor and Goodmans LLP served as co-counsel to General Atlantic.

Browning West Urges Gildan Activewear’s Board of Directors to Promptly Answer Questions Related to Apparent Diligence Failures During Its CEO Search

Retrieved on:

Thursday, February 8, 2024

As part of standard due diligence, Browning West conducts thorough research pertaining to the track records of CEOs of our portfolio companies.

Key Points:

As part of standard due diligence, Browning West conducts thorough research pertaining to the track records of CEOs of our portfolio companies.
Our research related to Mr. Tyra has revealed a clear track record of value destruction.
Unfortunately, we have yet to hear back from Ms. Cunningham, despite the fact that this committee is directly responsible for CEO succession.
How much did the Board compensate its “renowned governance expert” to author the favorable Governance Report for the Board?

AYR Completes Previously Announced Plan of Arrangement

Retrieved on:

Wednesday, February 7, 2024

EDGAR, OTCQX, Senior, Canada Business Corporations Act, SVS, Note, Stikeman Elliott, Backstop, Debt-to-GDP ratio, Investment, AYR, Sale, Arrangement, Goodmans, LLP, Eastern Time Zone, Security (finance)

AYR has completed its previously announced plan of arrangement transactions, including extending the maturity of all of its Senior Notes due 2024 and certain other debt by two years.

Key Points:

AYR has completed its previously announced plan of arrangement transactions, including extending the maturity of all of its Senior Notes due 2024 and certain other debt by two years.
AYR raised US$40 million of new capital through the issuance of US$50 million of additional Senior Notes maturing in 2026.
MIAMI, Feb. 07, 2024 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, is pleased to announce that it has successfully completed its previously announced court-approved plan of arrangement under Section 192 of the Canada Business Corporations Act (the “Arrangement”) involving the Company and AYR Wellness Canada Holdings Inc. (“AYR Wellness Canada”), implementing those transactions described in the Company’s management information circular dated November 15, 2023 (the “Circular”).
AYR CEO David Goubert said: “The consummation of the plan of arrangement is the culmination of a series of actions taken over the past year that seek to ensure the financial strength of AYR.

AYR Announces Closing Date for Previously Announced Plan of Arrangement is targeted for on or around February 7, 2024

Retrieved on:

Wednesday, January 31, 2024

EDGAR, OTCQX, Senior, Canada Business Corporations Act, SVS, Note, Stikeman Elliott, Debt-to-GDP ratio, Sale, Arrangement, Goodmans, LLP, Security (finance)

As such, the closing of the Arrangement is targeted for on or around February 7, 2024, and the record date for determining the Shareholders (as defined below) entitled to receive the Anti-Dilutive Warrants (as defined below) pursuant to the Arrangement has been set as the close of business on February 5, 2024.

Key Points:

As such, the closing of the Arrangement is targeted for on or around February 7, 2024, and the record date for determining the Shareholders (as defined below) entitled to receive the Anti-Dilutive Warrants (as defined below) pursuant to the Arrangement has been set as the close of business on February 5, 2024.
Stikeman Elliott LLP and Weil Gotshal & Manges LLP are acting as the Company’s Canadian and U.S. legal counsel, respectively.
Ducera Partners LLC is serving as financial advisor to the supporting holders of the Senior Notes (the “Supporting Senior Noteholders”).
Goodmans LLP and Paul Hastings LLP are acting as the Supporting Senior Noteholders’ Canadian and U.S. legal counsel, respectively.