I think so as well
This was not that long ago March 2022
March 23, 2022 at 9:04 AM EDT
NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
MARKHAM, Ontario, March 23, 2022 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX:SIA) today announced that it has successfully completed the previously announced bought deal offering (the “Offering”) of common shares of the Company (“Common Shares”) to a syndicate of underwriters led by TD Securities Inc., as sole bookrunner, and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., iA Private Wealth Inc. and Laurentian Bank Securities Inc. (collectively, the “Underwriters”).
A total of 5,750,000 Common Shares were issued at a price of $15.00 per Common Share for aggregate gross proceeds of $86,250,000. This includes gross proceeds from the full exercise of the over-allotment option granted to the Underwriters to purchase an additional 750,000 Common Shares.
The Company intends to use the net proceeds of the Offering to partially fund the previously announced acquisitions of (i) a 50% ownership interest in eleven seniors' living assets comprised of 1,048 private-pay suites in Ontario and Saskatchewan; (ii) a 50% ownership interest in a retirement residence comprised of 186 private-pay suites located in Saskatoon, Saskatchewan; and (iii) a seniors’ living residence comprised of 55 private-pay suites and 123 government-funded Class A long-term care beds located in Barrie, Ontario (collectively, the “Acquisitions”), and to pay the Company's expenses in connection with the Acquisitions.
Further details of the Offering and the Acquisitions are described in the final short form prospectus of the Company dated March 11, 2022 filed with Canadian securities regulators. A copy of the final prospectus is available under the Company’s profile on SEDAR at www.sedar.com.