Investissement Québec

Ember Completes Acquisition of H2O Innovation

Retrieved on: 
Friday, December 8, 2023
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(TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces the completion of the previously announced acquisition by Ember SPV I Purchaser Inc. (the “Purchaser”), an entity controlled by funds managed by Ember Infrastructure Management, LP (“Ember”), a New York-based private equity firm, of all of the issued and outstanding common shares in the capital of H2O Innovation (the “Shares”), other than the Shares rolled over by Investissement Québec (“IQ”), Caisse de dépôt et placement du Québec and certain key executives of the Corporation, for C$4.25 in cash per Share (the “Consideration”), pursuant to a statutory plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act.

Key Points: 
  • (TSX: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces the completion of the previously announced acquisition by Ember SPV I Purchaser Inc. (the “Purchaser”), an entity controlled by funds managed by Ember Infrastructure Management, LP (“Ember”), a New York-based private equity firm, of all of the issued and outstanding common shares in the capital of H2O Innovation (the “Shares”), other than the Shares rolled over by Investissement Québec (“IQ”), Caisse de dépôt et placement du Québec and certain key executives of the Corporation, for C$4.25 in cash per Share (the “Consideration”), pursuant to a statutory plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act.
  • “Closing this transaction marks the start of an exciting chapter for H2O Innovation, as we continue our expansion with the resources and expertise that our new partners at Ember can bring to the Corporation and our customers,” said Frédéric Dugré, President, Chief Executive Officer and co-Founder of H2O Innovation.
  • H2O Innovation’s annual meeting of shareholders, previously scheduled to be held on December 22, 2023, has been cancelled in light of the completion of the Arrangement.
  • Unless required to do so pursuant to applicable securities legislation, H2O Innovation assumes no obligation to update or revise forward-looking statements contained in this press release or in other communications as a result of new information, future events, and other changes.

H2O Innovation Receives Final Order for Arrangement with Ember

Retrieved on: 
Monday, December 4, 2023
Environmental Health, Energy, Utilities, Environment, Canada Business Corporations Act, Attention, Acquisition, Corporation, HEO, Investissement Québec, Nature, Circular, Risk, LP, Purchasing, TSX, Legislation, Superior court, Insurance, Arrangement, Share (finance)

It is anticipated that the Arrangement will be completed in the coming days, subject to the delivery by the parties of customary deliverables.

Key Points: 
  • It is anticipated that the Arrangement will be completed in the coming days, subject to the delivery by the parties of customary deliverables.
  • These statements are included in this press release, the Circular and may be included in other filings or communications from the Corporation.
  • Forward-looking statements may include, but are not limited to, the anticipated timing and the various steps to be completed in connection with the Arrangement and the anticipated timing of closing of the Arrangement.
  • Moreover, the proposed Arrangement could be modified or the Arrangement Agreement terminated in accordance with its terms.

H2O Innovation’s Shareholders Approve Arrangement with Ember

Retrieved on: 
Tuesday, November 28, 2023
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Completion of the Arrangement is subject to customary conditions, including receiving the final order of the Superior Court of Québec.

Key Points: 
  • Completion of the Arrangement is subject to customary conditions, including receiving the final order of the Superior Court of Québec.
  • It is anticipated that the Arrangement will be completed in the fourth quarter of 2023.
  • These statements are included in this press release, the Circular and may be included in other filings or communications from the Corporation.
  • Moreover, the proposed Arrangement could be modified or the Arrangement Agreement terminated in accordance with its terms.

H2O Innovation Reports First Quarter Results - Gross Profit Margin Improvement and Strong Consolidated Backlog

Retrieved on: 
Tuesday, November 14, 2023
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The increase of WTS’s EBAC in dollars and in percentage is mainly attributable to the improvement of the gross profit margin before depreciation and amortization due to higher revenues coming from the service activities.

Key Points: 
  • The increase of WTS’s EBAC in dollars and in percentage is mainly attributable to the improvement of the gross profit margin before depreciation and amortization due to higher revenues coming from the service activities.
  • Specialty Products’ EBAC was impacted by the decrease in sales volume, while the selling and general expenses increased.
  • The definition of EBAC means the earnings before administrative costs and other items in note 11 of the condensed interim consolidated financial statements.
  • The increase in percentage was primarily due to the improvement of the gross profit margin in the WTS business pillar, mostly explained by a higher proportion of revenues coming from our service activities, which are characterized by higher gross profit margins.

Canada's Gigaton-Scale Carbon Removal Project Developer, Deep Sky, Raises C$75M Series A Funding

Retrieved on: 
Thursday, November 16, 2023
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MONTRÉAL, Nov. 16, 2023 /PRNewswire/ -- Deep Sky, a Montreal-based carbon removal project developer, today announced it has raised a total of $75M CAD in its Series A funding to support gigaton-scale carbon removal in Canada. The round includes conversion of its $17.7M seed note and $57.5M in new capital co-led by Brightspark Ventures and Whitecap Venture Partners, with major participation from Investissement Québec ($25M), as a mandate of the government of Quebec, OMERS Ventures, and Business Development Bank of Canada (BDC)'s Climate Tech Fund. The fresh capital will be used to begin planning and construction of its first commercial facility; grow the team; build corresponding carbon removal software for selling carbon credits; and fund its Alpha research facility, the world's first carbon removal research center.

Key Points: 
  • MONTRÉAL, Nov. 16, 2023 /PRNewswire/ -- Deep Sky , a Montreal-based carbon removal project developer, today announced it has raised a total of $75M CAD in its Series A funding to support gigaton-scale carbon removal in Canada.
  • Alongside the fresh capital, Deep Sky has added two prominent independent board members, Annesley Wallace and Sam Duboc.
  • We're committed to making Canada the carbon removal capital of the world and offering the highest quality carbon emission offsets."
  • Deep Sky is the world's first carbon removal project developer deploying the best carbon capture technology from around the world under one roof.

More than $7 million invested in RVE to democratize access to electric vehicle charging in North America

Retrieved on: 
Tuesday, November 7, 2023
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LAVAL, QC, Nov. 7, 2023 /CNW/ - Recharge Véhicule Électrique (RVE) announces total investments of over $7 million to support the development and deployment of innovative solutions that democratize access to home charging for electric vehicle owners across North America.

Key Points: 
  • LAVAL, QC, Nov. 7, 2023 /CNW/ - Recharge Véhicule Électrique (RVE) announces total investments of over $7 million to support the development and deployment of innovative solutions that democratize access to home charging for electric vehicle owners across North America.
  • "First and foremost, we want to provide equitable, low-impact, sustainable access to home charging for electric vehicles.
  • Geneviève Morin, CEO of Fondaction, agrees: "Democratizing access to electric vehicle charging in densely populated areas promotes the electrification of transport in a context where we are seeking to avoid GHG emissions and urban sprawl.
  • RVE's patented hardware and software energy management systems (the DCC product line) are compatible with all electric vehicles and charging stations.

Theratechnologies Announces Closing of US$25 Million Public Offering of Common Shares and Concurrent Private Placement

Retrieved on: 
Tuesday, October 31, 2023
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MONTREAL, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (Nasdaq: THTX; TSX: TH), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has closed its previously announced public offering (the “Public Offering”) of 12,500,000 common shares of the Company (the “Common Shares”) at a public offering price of US$1.00 per Common Share (the “Offering Price”).

Key Points: 
  • MONTREAL, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (Nasdaq: THTX; TSX: TH), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has closed its previously announced public offering (the “Public Offering”) of 12,500,000 common shares of the Company (the “Common Shares”) at a public offering price of US$1.00 per Common Share (the “Offering Price”).
  • The gross proceeds of the Public Offering are US$12,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses.
  • As at the date of closing, Investissement Québec beneficially owns approximately 19.9% (25.4% if the Exchangeable Subscription Receipts were to be exchanged into Common Shares) of the issued and outstanding Common Shares.
  • The Public Offering and the Concurrent Private Placement are subject to final acceptance of the Toronto Stock Exchange.

H2O Innovation Announces Expiry of “Go-Shop” Period

Retrieved on: 
Friday, November 3, 2023
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The “go-shop” period expired on November 2, 2023 at 11:59 p.m. (Montréal time) with no superior proposal having been received.

Key Points: 
  • The “go-shop” period expired on November 2, 2023 at 11:59 p.m. (Montréal time) with no superior proposal having been received.
  • H2O Innovation is now subject to a non-solicitation covenant with customary “fiduciary out” provisions under the terms of the Arrangement Agreement.
  • The Management Information Circular (the “Circular”) and related materials for the Meeting are available under the Corporation’s profile on SEDAR+ at www.sedarplus.ca and on H2O Innovation’s website at www.h2oinnovation.com .
  • H2O Innovation has retained Kingsdale Advisors to act as proxy solicitation agent and to respond to inquiries from Shareholders.

H2O Innovation Receives Interim Order and Files Management Information Circular in Connection with Special Meeting of Shareholders

Retrieved on: 
Monday, October 30, 2023
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Among other things, the Interim Order authorizes the Corporation to call, hold and conduct a special meeting (the “Meeting”) of holders (the “Shareholders”) of Shares to consider the Arrangement.

Key Points: 
  • Among other things, the Interim Order authorizes the Corporation to call, hold and conduct a special meeting (the “Meeting”) of holders (the “Shareholders”) of Shares to consider the Arrangement.
  • The Management Information Circular (the “Circular”) and related materials for the Meeting are available under the Corporation’s profile on SEDAR+ at www.sedarplus.ca and on H2O Innovation’s website at www.h2oinnovation.com .
  • H2O Innovation expects to begin the distribution and mailing of the Circular and related materials to Shareholders in the coming days.
  • Shareholders of record on October 24, 2023 will be entitled to receive notice of, and to vote at, the Meeting.

Theratechnologies Announces Pricing of US$25 Million Public Offering of Common Shares and Concurrent Private Placement

Retrieved on: 
Thursday, October 26, 2023
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MONTREAL, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (Nasdaq: THTX; TSX: TH), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has priced its previously announced public offering (the “Public Offering”) of 12,500,000 common shares of the Company (the “Common Shares”) at a public offering price of US$1.00 per Common Share (the “Offering Price”). The gross proceeds of the Public Offering are expected to be approximately US$12,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses. The Company has also granted the underwriter a 30-day option (the “Option”) to purchase up to 1,875,000 Common Shares at the Offering Price, less underwriting discounts and commissions.

Key Points: 
  • MONTREAL, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (Nasdaq: THTX; TSX: TH), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has priced its previously announced public offering (the “Public Offering”) of 12,500,000 common shares of the Company (the “Common Shares”) at a public offering price of US$1.00 per Common Share (the “Offering Price”).
  • The gross proceeds of the Public Offering are expected to be approximately US$12,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses.
  • In connection with the Public Offering, the Company entered into a subscription agreement with Investissement Québec for a concurrent private placement (the “Concurrent Private Placement”) of 9,118,184 Common Shares and 3,381,816 fully-funded, non-voting subscription receipts, exchangeable into Common Shares on a one-for-one basis (the “Exchangeable Subscription Receipts”) in lieu of Common Shares, in each case, at the Offering Price, for US$12,500,000 aggregate gross proceeds, less a capital commitment fee of 1.5% payable to Investissement Québec.
  • The closing of the Public Offering and the Concurrent Private Placement are conditional upon each other.