GDI Integrated Facility Services Inc. announces - Full Exercise and Closing of Over-Allotment Option Français
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
LASALLE, QC, Dec. 9, 2016 /CNW Telbec/ - GDI Integrated Facility Services Inc. (TSX: GDI) (the "Company" or "GDI") is pleased to announce that it has issued additional 5.00% convertible unsecured subordinated debentures due December 31, 2021 (the "Debentures" ) in an aggregate principal amount of $3,750,000 following the exercise in full of the over-allotment option granted to the underwriters in connection with GDI's previously completed public offering of Debentures (the "Offering"). The additional Debentures were sold to a syndicate of underwriters co-led by National Bank Financial Inc., Desjardins Securities Inc. and GMP Securities L.P., and including BMO Nesbitt Burns Inc., TD Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and Industrial Alliance Securities Inc.
As previously announced, at the closing of the Offering held on December 2, 2016, GDI issued Debentures in an aggregate principal amount of $25,000,000. As a result of the exercise in full of the over-allotment option, GDI has issued Debentures in an aggregate principal amount of $28,750,000 under the Offering.
GDI intends to use the net proceeds from the closing of the over-allotment option to reduce indebtedness under GDI's revolving credit facilities, providing GDI with additional flexibility to continue to pursue its strategic growth objectives.
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any other state securities laws and may not be offered or sold in the United States.
ABOUT GDI
GDI is a leading commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, hotels, shopping centres, industrial facilities, healthcare establishments, distribution facilities, airports and other transportation facilities. GDI's commercial facility services capabilities include commercial janitorial, installation, maintenance and repair of HVAC-R, mechanical and electrical systems, as well as other complementary services such as damage restoration and janitorial products manufacturing and distribution. GDI's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GDI's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as «may»; «will»; «should»; «expect»; «plan»; «anticipate»; «believe»; «intend»; «estimate»; «predict»; «potential»; «continue»; «foresee»; «confident»; «ensure» or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GDI's future objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GDI believes are reasonable as of the current date. While management considers these assumptions to be reasonable, they may prove to be incorrect. It is impossible for GDI to predict with certainty the impact that the current economic uncertainties may have on future results. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the Company is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.
SOURCE GDI Integrated Facility Services Inc.
Investor, analyst and media, GDI Integrated Facility Services Inc., David Hinchey, Senior Vice President, Strategic Development, Telephone: 514-368-8690 ext. 282
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