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Leisureworld Senior Care Corp Closes Previously Announced Public Offering Of Subscription Receipts And Extendible Convertible Unsecured Subordinated Debentures


Thursday, 25 Apr 2013 08:50am EDT 

Leisureworld Senior Care Corp announced that it has completed its previously announced bought deal offering of subscription receipts and extendible convertible unsecured subordinated debentures (the Debentures). The syndicate of underwriters, led by TD Securities Inc., exercised the over-allotment option in full, resulting in a total of 6,353,750 subscription receipts and $46 million aggregate principal amount of Debentures being issued for total gross proceeds of $124,786,500. The net proceeds of the offering will be used in part to finance a portion of the purchase price of the previously announced acquisition of a portfolio of 10 properties in Ontario consisting of 6 long-term care (LTC) homes, 2 retirement residences and 2 properties containing both LTC and retirement residences components (the Acquisition). Leisureworld expects the completion of the Acquisition to occur in the fourth quarter of 2013. 

Company Quote

12.9
0.02 +0.16%
4:00pm EDT