Dye & Durham Limited announces closing of previously announced C$50 million bought deal private placement financing
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TORONTO, Sept. 30, 2020 /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, announced today that it has closed its previously announced offering of 2,381,621 common shares of the Company (the "Shares") on a bought deal private placement basis, at a price of $21 per Share (the "Offering Price") for aggregate gross proceeds to the Company of $50,014,041 (the "Treasury Offering").
In addition to the Treasury Offering, the bought deal private placement also comprised a secondary offering of an aggregate of 952,379 Shares (the "Secondary Offering" and together with the Treasury Offering, the "Offering") by Plantro Ltd., Seastone Invest Limited and other shareholders of the Company at the Offering Price. The Company did not receive any proceeds from the Secondary Offering.
The Offering was led by Canaccord Genuity Corp. as bookrunner and Scotia Capital Inc., INFOR Financial Inc., BMO Nesbitt Burns Inc. and Raymond James Ltd. as underwriters (collectively, the "Underwriters"). Goodmans LLP acted as legal counsel to the Company, and Osler, Hoskin & 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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, 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 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 legislation, 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 final prospectus of the Company dated July 13, 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
For investor inquiries, please contact: Adam Peeler, LodeRock Advisors Inc., [email protected], 416.427.1235
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