pcNewsWire – Park Lawn Corporation (TSX: PLC) has completed its previously announced offering of 4,237,750 common shares, including common shares issued pursuant to the exercise in full of the over-allotment option, at $19.00 per common share for gross proceeds of $80,517,250
The offering was made by a syndicate of underwriters led by National Bank Financial Inc., and including Clarus Securities Inc., Cormark Securities Inc., Acumen Capital Finance Partners Limited, TD Securities Inc., Paradigm Capital Inc. and Raymond James Ltd.
The net proceeds from the offering are expected to be used to fund the cash portion of the purchase price for the previously announced acquisition of Saber Management, LLC.
Park Lawn Corporation Announces Successful Closing of Common Share Offering and Exercise in Full of Over-Allotment Option for Gross Proceeds of Over C$80 Million
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
TORONTO, ONTARIO, June 27, 2017 – Park Lawn Corporation (TSX:PLC) (“PLC” or the “Company”) is pleased to announce that it has completed its previously announced offering of common shares (the “Common Shares”) with a syndicate of underwriters led by National Bank Financial Inc., and including Clarus Securities Inc., Cormark Securities Inc., Acumen Capital Finance Partners Limited, TD Securities Inc., Paradigm Capital Inc. and Raymond James Ltd. (collectively, the “Underwriters”), on a bought deal basis. A total of 4,237,750 Common Shares (including Common Shares issued pursuant to the exercise in full of the over-allotment option granted by the Company to the Underwriters) were issued at a price of $19.00 per Common Share for total gross proceeds of $80,517,250 (the “Offering”). The net proceeds from the Offering are expected to be used to fund the cash portion of the purchase price for the previously announced acquisition (the “Acquisition”) of Saber Management, LLC.
The Common Shares were offered pursuant to a short-form prospectus dated June 20, 2017 (the “Prospectus”), filed in each of the provinces of Canada, which describes the terms of the Offering. A copy of the short-form prospectus is available under the Company’s profile on the SEDAR website at www.sedar.com.
The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the “1933 Act”) and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to, or for the account or benefit of, U.S. persons.
About Park Lawn Corporation
PLC provides goods and services associated with the disposition and memorialization of human remains.
Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC
and its subsidiaries own and operate 65 businesses including cemeteries, crematoria, funeral homes,
chapels, planning offices and a transfer service. PLC operates in Ontario, Quebec, Manitoba,
Saskatchewan, British Columbia & Michigan.
Chairman & Chief Executive Officer
Chief Financial Officer
VP, Business Development & Corporate Affairs