Seasoned equity offering

Peyto Announces Closing of Equity Financing

Retrieved on: 
Tuesday, September 26, 2023

CALGARY, Alberta, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") is pleased to announce that it has completed its previously announced bought deal equity financing, issuing 16,916,500 subscription receipts (the "Subscription Receipts") at a price of $11.90 per Subscription Receipt for gross proceeds of approximately $201 million (the "Equity Offering"), which included the full exercise of the over-allotment option granted to the underwriters. The bought deal offering was completed through a syndicate of underwriters led by BMO Capital Markets, CIBC Capital Markets and National Bank Financial. The gross proceeds from the Equity Offering, less the portion of the underwriters’ fee that is payable on the closing of the Equity Offering, will be held in escrow and are intended to be used by Peyto to fund a portion of the purchase price for the acquisition of Repsol Canada Energy Partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración, S.A.U., including all related midstream facilities and infrastructure located predominantly in the Deep Basin area of Alberta, for cash consideration of US$468 million (CDN$636 million) (the "Acquisition"), prior to closing adjustments. The Acquisition is expected to close in mid-October, subject to customary closing conditions, including receipt of necessary regulatory approvals.

Key Points: 
  • The Acquisition is expected to close in mid-October, subject to customary closing conditions, including receipt of necessary regulatory approvals.
  • Each Subscription Receipt will entitle the holder to receive, without payment of additional consideration and without further action, one common share of Peyto (a "Common Share") upon the closing of the Acquisition.
  • Peyto has previously announced that a monthly dividend of $0.11 per Common Share is to be paid on October 13, 2023, for shareholders of record on September 30, 2023.
  • Peyto does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law.

Peyto Announces Increase to Previously Announced Bought Deal Offering to C$175 Million

Retrieved on: 
Thursday, September 7, 2023

CALGARY, Alberta , Sept. 07, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") is pleased to announce that due to strong demand, it has increased the size of the previously announced public offering of subscription receipts ("Subscription Receipts") to 14,710,000 Subscription Receipts at a price of $11.90 per Subscription Receipt (the “Offering Price”) for gross proceeds of approximately $175 million (the “Equity Offering”). The Company previously entered into an agreement with a syndicate of underwriters (the "Underwriters") led by BMO Capital Markets, CIBC Capital Markets and National Bank Financial. Peyto has also granted the Underwriters an option, exercisable, in whole or in part, at any time up to the earlier of 30 days following the closing of the Equity Offering and the occurrence of certain termination events with respect to the Subscription Receipts, to purchase up to an additional 15% of the number of Subscription Receipts purchased by the Underwriters under the Equity Offering at the Offering Price to cover over-allotments, if any, and for market stabilization purposes (the "Over-Allotment Option"). The gross proceeds from the Equity Offering, less the portion of the underwriters’ fee that is payable on the closing of the Equity Offering, will be held in escrow and are intended to be used by Peyto to fund a portion of the purchase price for the acquisition of Repsol Canada Energy partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración, S.A.U., including all related midstream facilities and infrastructure located predominantly in the Deep Basin, for cash consideration of US$468 million (CDN$636 million) (the “Acquisition") subject to closing adjustments.

Key Points: 
  • The Company previously entered into an agreement with a syndicate of underwriters (the "Underwriters") led by BMO Capital Markets, CIBC Capital Markets and National Bank Financial.
  • Each Subscription Receipt will entitle the holder to receive, without payment of additional consideration and without further action, one common share of Peyto (a "Common Share") upon the closing of the Acquisition.
  • Peyto does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law.
  • This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction.

Savaria Corporation announces $55 million public equity offering and $25 million concurrent private placement from CDPQ

Retrieved on: 
Wednesday, September 6, 2023

LAVAL, Québec, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria” or the “Corporation”) (TSX: SIS), a global leader in the accessibility industry, is pleased to announce the issue and sale of common shares (“Common Shares”) pursuant to a public offering (the “Offering”) and a concurrent private placement (the “Concurrent Private Placement”, and collectively with the Offering, the “Equity Offerings”) for aggregate gross proceeds to the Corporation of approximately $80,025,500.

Key Points: 
  • LAVAL, Québec, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria” or the “Corporation”) (TSX: SIS), a global leader in the accessibility industry, is pleased to announce the issue and sale of common shares (“Common Shares”) pursuant to a public offering (the “Offering”) and a concurrent private placement (the “Concurrent Private Placement”, and collectively with the Offering, the “Equity Offerings”) for aggregate gross proceeds to the Corporation of approximately $80,025,500.
  • Under the Concurrent Private Placement, Savaria has entered into an agreement with CDPQ, under which it will issue and sell 1,725,000 Common Shares at the Issue Price for gross proceeds to the Corporation of approximately $25,012,500.
  • Closing of the Offering and the Concurrent Private Placement are expected to occur concurrently on or about September 22, 2023.
  • The Offering and the Concurrent Private Placement are conditional upon each other.

Peyto Announces Strategic Acquisition and Concurrent Bought Deal Offering

Retrieved on: 
Wednesday, September 6, 2023

CALGARY, Alberta, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX: PEY) is pleased to announce it has entered into a partnership interest purchase agreement to acquire Repsol Canada Energy Partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración, S.A.U., including all related midstream facilities and infrastructure located predominantly in the Deep Basin (collectively the "Assets"), for cash consideration of US$468 million (CDN$636 million) ("the Acquisition") subject to closing adjustments. The Acquisition is expected to close in mid-October, subject to customary closing conditions, including the receipt of necessary regulatory approvals.

Key Points: 
  • Peyto does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law.
  • The reserves disclosures contained in this news release with respect to Peyto and the assets associated with the Acquisition are derived from means the Peyto Report the GLJ Report, respectively.
  • Peyto uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl).
  • It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices.

TerrAscend Closes on Second Tranche of Private Placements for Total Aggregate Proceeds of US$20.5 Million

Retrieved on: 
Wednesday, June 28, 2023

TORONTO, June 28, 2023 (GLOBE NEWSWIRE) -- TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the closing of the second tranche of private placements (the “Private Placements”) for total aggregate proceeds of US$20.5 million.

Key Points: 
  • TORONTO, June 28, 2023 (GLOBE NEWSWIRE) -- TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the closing of the second tranche of private placements (the “Private Placements”) for total aggregate proceeds of US$20.5 million.
  • The net proceeds from the Private Placements will be used to qualify for the Company’s proposed TSX listing, to fund Maryland dispensary acquisitions, and for working capital and general corporate purposes.
  • Following completion of the Reorganization Investment, TerrAscend now holds exchangeable shares of TerrAscend Growth, representing approximately 99.8% of the economic ownership of TerrAscend Growth, on an as-converted basis.
  • In total, the insiders acquired, in the aggregate, 2,000 Debentures and 825,734 Units in connection with the Private Placements for aggregate gross proceeds of $3,238,601 (the “Insider Participation”).

TerrAscend Announces Proposed US $15 Million Private Placements

Retrieved on: 
Wednesday, June 21, 2023

TORONTO, June 21, 2023 (GLOBE NEWSWIRE) -- TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced its intention to complete two concurrent private placements (the “Private Placements”) for total gross proceeds of approximately US $15 million.

Key Points: 
  • TORONTO, June 21, 2023 (GLOBE NEWSWIRE) -- TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced its intention to complete two concurrent private placements (the “Private Placements”) for total gross proceeds of approximately US $15 million.
  • The Private Placements consist of an offering of units (the “Units”) of the Company (the “Equity Offering”) of approximately US $7.5 million and a non-brokered offering of senior unsecured convertible debentures (the “Debentures”) of approximately US $7.5 million (the “Debenture Offering”).
  • The net proceeds from the Private Placements will be used to qualify for the Company’s proposed TSX listing, to fund Maryland dispensary acquisitions, and for working capital and general corporate purposes.
  • An aggregate of 5 million Units are being issued in the proposed Equity Offering at a price of US $1.50 (CAD $2.00) per Unit (the “Issue Price”) for aggregate gross proceeds of approximately US $7.5 million (CAD $10 million).

Gibson Energy Expands Liquids Infrastructure Platform with Acquisition of Texas Gulf Coast Crude Oil Export Facility for US$1.1 Billion, Announces Concurrent $350 Million Subscription Receipt Bought Deal Offering

Retrieved on: 
Wednesday, June 14, 2023

CALGARY, Alberta, June 14, 2023 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI) announced today it has entered into an agreement to acquire 100% of the membership interests of South Texas Gateway Terminal LLC (“STLLC”) for a total purchase price of US$1.1 billion in cash (the “Transaction”), subject to closing adjustments. Through the Transaction, Gibson acquires the South Texas Gateway Terminal (“STGT” or the “Terminal”) which is positioned as one of the most competitive liquids terminal and export facilities globally with direct pipeline connections to low-cost, long reserve-life resource supply, and very large crude carrier (“VLCC”) capabilities. The Transaction implies a multiple of less than 9x the projected forward Adjusted EBITDA and is immediately accretive, with DCF per share accretion in the mid-teens4,5,6.

Key Points: 
  • “After much patience and discipline, I am excited to add the world-class South Texas Gateway Terminal to our infrastructure portfolio.
  • This transaction amplifies our high-quality infrastructure revenues and bolsters the continued growth of our distributable cash flow per share.
  • In March 2021, STGT completed the final construction phase of incremental storage facilities bringing the total terminalling capacity to 8.6 million barrels of crude oil across 20 tanks.
  • Through the Transaction, Gibson expands and enhances its North American terminal footprint by establishing a third liquids hub underpinned by over 95% take-or-pay        revenue8.

FEMSA announces the pricing of the offering of shares of Heineken N.V. and Heineken Holding N.V.

Retrieved on: 
Wednesday, May 31, 2023

MONTERREY, Mexico, May 31, 2023 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces today the pricing of the sale by the Company and its wholly-owned subsidiaries Compañía Internacional de Bebidas, S.A. de C.V. and Grupo Industrial Emprex, S. de R.L. de C.V. of its entire holding of existing issued ordinary shares of both Heineken N.V. and Heineken Holding N.V. (together, the “Heineken Group”) by way of an accelerated book build of shares in the total amount of EUR 3.3 billion (approximately 6.0% of the combined interest in the Heineken Group) (the “Equity Offering”) as well as a bilateral sale of additional shares to Heineken N.V., except for any shares retained underlying FEMSA’s outstanding EUR 500 million 2.625% senior unsecured Exchangeable Bonds due 2026 (the “Bonds”), exchangeable into ordinary shares of Heineken Holding N.V. Given the strength of demand seen for the Equity Offering, the Company has decided not to proceed with the concurrent tap issuance of its outstanding Bonds announced on May 30, 2023.

Key Points: 
  • The Equity Offering and the bilateral sale to Heineken N.V. have been approved by FEMSA’s board of directors and is conducted and announced in accordance with applicable law.
  • In addition to the Equity Offering, Heineken N.V. has committed to purchase 2.5 million shares in Heineken N.V. and 1.3 million shares in Heineken Holding N.V. or EUR 234.8 million and EUR 97.8 million respectively at the final offer prices, in aggregate equivalent to an additional c.10% of the Equity Offering.
  • Following the completion of the Equity Offering and the bilateral sale, FEMSA will not retain any residual holding in Heineken N.V. or in Heineken Holding N.V. except for any shares retained underlying FEMSA’s outstanding Bonds, exchangeable into ordinary shares of Heineken Holding N.V.
    As previously indicated, L'Arche Green N.V., the entity through which the Heineken Family exercises control of Heineken Holding N.V., participated in the Equity Offering for an amount of c. EUR 50 million in shares in Heineken Holding N.V.
    No prospectus or similar document will be published in connection with the Equity Offering.
  • BofA Securities, Goldman Sachs International, J.P. Morgan, Morgan Stanley and Citigroup are acting as joint bookrunners (the “Joint Bookrunners”) in respect of the Equity Offering.

FEMSA announces an approximately EUR 3.3 billion offering of shares of Heineken N.V. and Heineken Holding N.V. and a Concurrent Tap issuance of up to EUR 250 million of FEMSA’s existing Exchangeable Bonds due 2026 exchangeable into shares of Heineken Hold

Retrieved on: 
Tuesday, May 30, 2023

MONTERREY, Mexico, May 30, 2023 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces today an offering by the Company and its wholly-owned subsidiaries Compañía Internacional de Bebidas, S.A. de C.V. and Grupo Industrial Emprex, S. de R.L. de C.V. of existing issued ordinary shares of both Heineken N.V. and Heineken Holding N.V. (together, the “Heineken Group”) in the total amount of approximately EUR 3.3 billion (approximately 5.9% of the combined interest in the Heineken Group) (the “Equity Offering”). The Company also announces today a tap issuance of euro denominated senior unsecured bonds in the aggregate principal amount of up to EUR 250 million (the “New Bonds”), exchangeable into ordinary shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”). The New Bonds will be consolidated and form a single series with the Company’s EUR 500 million 2.625% senior unsecured Exchangeable Bonds due 2026, originally issued on 24 February 2023 (the “Original Bonds” and together with the New Bonds, the “Bonds”) with effect from on or about 18 July 2023 (the “Consolidation Date”).

Key Points: 
  • de C.V. of existing issued ordinary shares of both Heineken N.V. and Heineken Holding N.V. (together, the “Heineken Group”) in the total amount of approximately EUR 3.3 billion (approximately 5.9% of the combined interest in the Heineken Group) (the “Equity Offering”).
  • The Company also announces today a tap issuance of euro denominated senior unsecured bonds in the aggregate principal amount of up to EUR 250 million (the “New Bonds”), exchangeable into ordinary shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”).
  • The Offering has been approved by FEMSA’s board of directors and is conducted and announced in accordance with applicable law.
  • Investors will have the opportunity to acquire shares in the Equity Offering in Heineken N.V. and Heineken Holding N.V.

FEMSA announces the pricing of the offering of shares of Heineken N.V. and Heineken Holding N.V. and the concurrent offering of exchangeable bonds exchangeable into shares of Heineken Holding N.V.

Retrieved on: 
Friday, February 17, 2023

MONTERREY, Mexico, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or, the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces today the pricing of the sale by its wholly-owned subsidiary CB Equity LLP of existing issued ordinary shares (the “Shares”) of both Heineken N.V. and Heineken Holding N.V. (together, the “Heineken Group”) in the total amount of EUR 3.2 billion (approximately 7% of the combined interest in the Heineken Group) (the “Equity Offering”). The Company also announces today the pricing of an offering of senior unsecured exchangeable bonds in the aggregate principal amount of EUR 500 million (the “Bonds”), exchangeable into Shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”).

Key Points: 
  • The Company also announces today the pricing of an offering of senior unsecured exchangeable bonds in the aggregate principal amount of EUR 500 million (the “Bonds”), exchangeable into Shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”).
  • The Offering has been approved by FEMSA’s board of directors and is conducted and announced in accordance with applicable law.
  • In the final allocation, Heineken N.V. will acquire EUR 708,171,100 in shares of Heineken N.V. and EUR 291,828,750 in shares of Heineken Holding N.V.in the Equity Offering.
  • The exchange premium was set at a 27.5% premium above the clearing price per ordinary share of Heineken Holding N.V. in the Concurrent Equity Offering.