NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWS WIRE SERVICES
SUPPLEMENTED PREP PROSPECTUS WILL BE ACCESSIBLE THROUGH SEDAR+ WITHIN TWO BUSINESS DAYS
MONTRÉAL, Nov. 20, 2024 /CNW/ - Groupe Dynamite Inc. ("Groupe Dynamite" or the "Company") announced today that it has obtained a receipt for its final base PREP prospectus filed with the securities regulatory authorities of all provinces and territories in Canada with respect to its initial public offering, and has entered into an underwriting agreement with respect to the offering of an aggregate of 14,285,715 subordinate voting shares of Groupe Dynamite at a price of $21 per share. The shares are being sold to the underwriters by the selling shareholders for gross proceeds to the selling shareholders of approximately $300,000,015.
The offering is being made through a syndicate of underwriters led by Goldman Sachs Canada Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc., as joint lead bookrunners, and Barclays Capital Canada Inc., Desjardins Securities Inc., National Bank Financial Inc. and Scotia Capital Inc., as bookrunners, and including Canaccord Genuity Corp., CIBC World Markets Inc. and Stifel Nicolaus Canada Inc.
The selling shareholders have also granted the underwriters an over-allotment option to purchase up to an additional 2,142,857 subordinate voting shares at a price of $21 per share. The over-allotment option is exercisable for a period of 30 days from the closing date of the offering.
The closing of the offering is expected to occur on November 26, 2024, subject to customary closing conditions. The subordinate voting shares are expected to begin trading on the Toronto Stock Exchange (the "TSX") on an if, as and when issued basis, on November 21, 2024, in Canadian dollars under the symbol "GRGD". The TSX has conditionally approved the listing of the subordinate voting shares, subject to fulfilling customary TSX requirements.
The supplemented PREP prospectus, containing pricing information and other important information relating to the offering, will be available shortly, and will be accessible at www.sedarplus.com within 2 business days. Access to the supplemented PREP prospectus is provided in accordance with securities legislation relating to procedures for providing access to a supplemented PREP prospectus. An electronic or paper copy of the supplemented PREP prospectus may be obtained, without charge, from any of the following by providing any of them with an email address or address, as applicable: Goldman Sachs Canada Inc., Attention: Prospectus Department, 77 King Street West, Suite 3400, Toronto, Ontario M5K 1B7, telephone: 1-866-471-2526, or by emailing [email protected]; BMO Nesbitt Burns Inc., by mail at Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, ON, L6S 6H2, by telephone at 1-905-791-3151 Ext 4312, or by emailing [email protected]; RBC Dominion Securities Inc., Attention: Distribution Centre, 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, or by e-mailing [email protected]; or TD Securities Inc., Attention: Symcor, NPM, 1625 Tech Avenue, Mississauga, Ontario L4W 5P5, by telephone at 1-289-360-2009, or by e-mailing [email protected].
No securities regulatory authority has either approved or disapproved the contents of this news release. The subordinate voting shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the subordinate voting shares 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 registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities of Groupe Dynamite in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Groupe Dynamite Inc.
Groupe Dynamite Inc. (GDI) is a fashion house operating retail stores and digital experiences under two complementary and spirited banners: GARAGE and DYNAMITE. We offer our customers an extensive and diverse range of women's fashion apparel that caters to a wide range of style preferences and lifestyle needs, primarily for Generation Z and Millennial women. We have grown from a single store in 1975 located in Place Versailles, to approximately 300 stores across Canada and the U.S., with a majority of our new store locations since 2022 in the higher-growth U.S. market, which we proudly operate from our Québec-based headquarters. We plan to continue our growth in the U.S. and other jurisdictions, such as the U.K. We are a value-led, inclusive organization, guided by our mission: "Empowering YOU to be YOU, one outfit at a time". Each and every one of our 6,000 employees – from our home in Montréal to across North America – will have ownership exposure subsequent to the offering, aligning their interests with those of our shareholders.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws, including statements with regard to the closing of Groupe Dynamite's initial public offering and Groupe Dynamite's business model, expectations regarding its pursuit of North American and international markets and Shared Success Program. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond Groupe Dynamite's control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, those described under "Risk Factors" in Groupe Dynamite's (final) base PREP prospectus. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this news release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release, and Groupe Dynamite does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
SOURCE GROUPE DYNAMITE INC
Contacts: Questions from investors - Investor Relations: Alex Limosani, Manager, Investor Relations and Corporate Finance - [email protected]; Questions from media - Media Relations: Jacee Scoular, Vice-President, Marketing / Anne Dongois - [email protected]
Share this article