Globe & MailA few more details at the end. GLTA
09:47 AM EDT, 03/18/2022 (MT Newswires) -- Neighbourly Pharmacy Inc. (TSX: NBLY) on Friday said it has closed its previously announced public offering and concurrent private placement of subscription receipts to finance its acquisition of Rubicon Pharmacies.
Neighbourly said it issued 5.175 million subscription receipts at $28.95 apiece for gross proceeds of $149.8 million under the public offering. This includes the full exercise of the over-allotment option by the underwriters.
The receipts began trading on the Toronto Stock Exchange on Friday under the ticker symbol NBLY.R.
Neighbourly closed its concurrent private placement of 4.15 million subscription receipts to an affiliate of Persistence Capital Partners for gross proceeds of $120 million. It also granted Persistence an option to acquire up to 622,500 additional subscription receipts within 30 days, which has not yet been exercised.
Neighbourly will keep the net proceeds of the public offering and the private placement in escrow pending the completion of the previously announced acquisition of Rubicon for $435 million. It expects to close the acquisition during the second quarter of 2022.
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