Decisive Dividend Corporation Announces Closing of Previously Announced Upsized Bought Deal Equity Financing
/NOT FOR DISTRIBUTION IN THE UNITED STATES/
KELOWNA, BC, April 13, 2023 /CNW/ - Decisive Dividend Corporation (TSXV: DE) (the "Corporation" or "Decisive") announced today the closing of its previously announced upsized bought deal equity financing (the "Financing") of units ("Units") of Decisive, including the full exercise of the over-allotment option for aggregate gross proceeds of $11,610,124.
Eight Capital and Cormark Securities Inc., acting as co-lead underwriters, with a syndicate of underwriters including Canaccord Genuity Corp, Echelon Wealth Partners Inc., Raymond James Ltd. and Stifel Nicolaus Canada Inc. (collectively, the "Underwriters").
The Financing was completed by way of a prospectus supplement to the short form base shelf prospectus of the Corporation dated November 30, 2022 . The prospectus supplement and base shelf prospectus are available on the Corporation's SEDAR profile at www.sedar.com.
Decisive sold an aggregate of 1,964,488 Units at a price of $5.91 per Unit, for aggregate gross proceeds of $11,610,124, inclusive of 256,238 Units issued pursuant to the exercise in full of the over-allotment option granted to the Underwriters. The Underwriters received a cash commission equal to 6.50% of the gross proceeds of the Financing, except for purchasers identified on the president's list for which the cash commission was 3.25%.
Each Unit is comprised of one common share of Decisive and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder thereof to purchase one common share of Decisive, at an exercise price of $7.09 per common share, for a period of 24 months following the closing of the Financing.
The net proceeds of the Financing will be used to partially repay Decisive's revolving term acquisition facility.
Decisive Dividend Corporation is an acquisition-oriented company, focused on opportunities in manufacturing. The Corporation's purpose is to be the sought-out choice for exiting legacy-minded business owners, while supporting the long-term success of the businesses acquired, and through that, creating sustainable and growing shareholder returns. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established, high quality manufacturing companies that have a sustainable competitive advantage, a focus on non-discretionary products, steady cash flows, growth potential and established, strong leadership.
For more information on Decisive, or to sign up for email notifications of Corporation press releases, please visit www.decisivedividend.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
The Units have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Decisive Dividend Corporation
Rick Torriero, Chief Financial Officer, #260 - 1855 Kirschner Road, Kelowna, BC V1Y 4N7, Telephone: (250) 870-9146
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