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CALGARY, Alberta, Dec. 15, 2021 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce that it has closed its previously announced bought deal offering of common shares (the "Offering"). Pursuant to the Offering, the Company issued 17,169,500 common shares (including 2,239,500 common shares issued pursuant to the exercise in full of the over-allotment option granted to the underwriters) at a price of $13.40 per common share, for aggregate gross proceeds of approximately $230.1 million. The syndicate of underwriters was led by TD Securities Inc. and RBC Capital Markets as joint bookrunners and co-led by CIBC Capital Markets and BMO Capital Markets. Net proceeds from the Offering will be used to partially fund the previously announced $728 million acquisition of 1.9 million acres of royalty lands across Western Canada and complementary seismic assets. The common shares issued in connection with the Offering are eligible to receive the dividend declared on December 8, 2021, for shareholders of record on December 31, 2021.
The common shares of PrairieSky issued in connection with the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, these securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of PrairieSky’s common shares in the United States.
https://www.globenewswire.com/news-release/2021/12/15/2352626/0/en/PrairieSky-Royalty-Closes-230-1-Million-Bought-Deal-Equity-Financing.html