Dye & Durham Announces Closing of $500 Million Bought Deal
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, Feb. 23, 2021 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announced the closing of its previously announced bought deal offering (the "Offering") of common shares ("Common Shares") and 3.75% convertible senior unsecured debentures of the Company due March 1, 2026 (the "Debentures"). Pursuant to the Offering, the Company issued a total of (i) 3,960,400 Common Shares at a price of $50.50 per Common Share for gross proceeds to the Company of approximately $200 million and (ii) $300 million aggregate principal amount of Debentures at a price of $1,000 per Debenture. The Underwriters have an over-allotment option exercisable for 30 days following the date hereof to purchase up to an additional 540,060 Common Shares at a price of $50.50 per Common Share and $45 million principal amount of Debentures.
The Offering was conducted through a syndicate of underwriters (the "Underwriters") led by Canaccord Genuity Corp., BMO Capital Markets and Scotiabank. Goodmans LLP acted as legal counsel to the Company, and Osler, Hoskin and Harcourt LLP acted as legal counsel to the Underwriters.
No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, or any state securities laws, 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 U.S. Securities Act). Accordingly, the 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 pursuant to exemptions from the registrations requirements of the U.S. Securities Act and applicable state securities laws.
About Dye & Durham
Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada and the United Kingdom, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations
Additional information can be found at www.dyedurham.com.
Forward-looking Statements
This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the prospectus supplement of the Company dated November 18, 2020 to the the short-form base shelf prospectus of the Company dated November 18, 2020. Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Dye & Durham
Adam Peeler, LodeRock Advisors Inc., [email protected], 416.427.1235
Share this article