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Alaris Royalty Corp Announces Completion of $105,894,300 Equity Financing

Tuesday, 16 Jul 2013 09:21am EDT 

Alaris Royalty Corp announced that it has closed its previously announced short-form prospectus offering of common shares of the Corporation on a bought deal basis, through a syndicate of underwriters led by Acumen Capital Finance Partners Limited and including Cormark Securities Inc., RBC Capital Markets Inc., Canaccord Genuity Corp., National Bank Financial Inc., and Raymond James Ltd. The Offering consisted of 2,980,000 Common Shares issued at a price of $30.90 per Common Share as well as an over-allotment option, which was exercised in full by the Underwriters, whereby they purchased an additional 447,000 Common Shares, on the same terms and the same price, to cover over-allotments. Pursuant to the terms of the underwriting agreement entered into between the Corporation and the Underwriters, and the Corporation's preliminary prospectus dated June 28, 2013, the Corporation issued Common Shares in lieu of subscription receipts under the Offering as a result of the closing of Alaris' $66,000,000 contribution to Sequel Youth and Family Services, LLC on July 1, 2013. The net proceeds of the Offering will be used to reduce all outstanding indebtedness under the Corporation's $50,000,000 credit facility, which was temporarily increased to $100,000,000 to fund the Sequel Contribution. The Facility will be available to continue the Corporation's business plan of contributing funds to new and existing private company partners in return for preferred distributions. 

Company Quote

0.45 +1.55%
22 Jul 2014