Closing of C$173 Million Bought Deal Financing NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, is pleased to announce that it has closed its previously announced bought deal financing (the “Offering”). A total of 2,783,000 common shares (the “Common Shares”) were sold pursuant to the Offering at a price of $62.00 per Common Share (the “Offering Price”) for aggregate gross proceeds to Altus Group of $172,546,000, including the full exercise of the underwriters’ over-allotment option to purchase an additional 363,000 Common Shares at the Offering Price. The Company intends to use the net proceeds of the Offering to fund the Company’s growth initiatives and for working capital and other general corporate purposes.
The Offering was led by TD Securities Inc. and BMO Capital Markets as the joint bookrunners, together with a syndicate of underwriters consisting of National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Cormark Securities Inc., HSBC Securities (Canada) Inc. and Stifel Nicolaus Canada Inc.
The Common Shares were offered pursuant to a short form prospectus dated September 27, 2021, filed in each of the Provinces and Territories of Canada and were offered for sale in the United States to Qualified Institutional Buyers (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the "1933 Act") by way of private placement pursuant to an exemption from the registration requirements of the 1933 Act. A copy of the prospectus is available under the Company's profile on SEDAR at www.sedar.com.
The securities offered have not been and will not be registered under the 1933 Act, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
https://www.globenewswire.com/news-release/2021/10/04/2307916/0/en/Altus-Group-Announces-Closing-of-C-173-Million-Bought-Deal-Financing-Including-Full-Exercise-of-Over-Allotment-Option.html