NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
LONGUEUIL, QC, June 26, 2014 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX) ("Héroux-Devtek" or the "Corporation"), a leading Canadian manufacturer of aerospace products, announced today that is has completed its previously-announced equity financing comprised of a "bought deal" short form prospectus offering of 3,158,000 common shares of the Corporation at a price of $11.75 per share for gross proceeds to the Corporation of $37,106,500 (the "Public Offering") and concurrent private placements of an aggregate of 1,097,871 common shares of the Corporation at a price of $11.75 per share for gross proceeds to the Corporation of $12,899,984 (the "Concurrent Private Placements").
The syndicate of underwriters for the Public Offering was co-led by National Bank Financial Inc. and TD Securities Inc., acting as co-lead underwriters and joint bookrunners, and included Scotia Capital Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc. and Raymond James Ltd. The investors in the Concurrent Private Placements were the Caisse de dépôt et placement du Québec and the Solidarity Fund QFL.
The Corporation intends to use the net proceeds from the Public Offering and the Concurrent Private Placements to repay indebtedness under its credit facility.
No securities regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation in any jurisdiction in which such offer, solicitation or sale would be unlawful. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any U.S. state securities law and may not be offered or sold in the United States except in compliance with the registration requirements of said Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.
PROFILE
Héroux-Devtek Inc. (TSX: HRX) is a Canadian company specializing in the design, development, manufacture and repair and overhaul of landing gear and actuation systems and components for the Aerospace market. The Corporation is the third largest landing gear company worldwide, supplying both the commercial and military sectors of the Aerospace market with new landing gear systems and components, as well as aftermarket products and services. The Corporation also manufactures electronic enclosures, heat exchangers and cabinets for suppliers of airborne radar, electro-optic systems and aircraft controls through its Magtron operations. On a pro forma basis, approximately 75% of the Corporation's sales are outside Canada, including 50% in the United States. The Corporation's head office is located in Longueuil, Québec with facilities in the Greater Montreal area (Longueuil, Laval and St-Hubert); Kitchener and Toronto, Ontario; Springfield and Cleveland, Ohio; Wichita, Kansas; and Runcorn, Nottingham and Bolton, United Kingdom.
FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Corporation. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Corporation's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
SOURCE: Héroux-Devtek Inc.
![](http://rt.newswire.ca/rt.gif?NewsItemId=C8788&Transmission_Id=201406260839CANADANWCANADAPR_C8788&DateId=20140626)
From: Héroux-Devtek Inc.
Gilles Labbé
President and Chief Executive Officer
Tel.: (450) 679-3330
Contact: MaisonBrison
Martin Goulet, CFA
Tel.: (514) 731-0000
Share this article