Offering's proceeds used in connection with acquisition of WSP Group
By Devika Patel
Knoxville, Tenn., June 27 - Genivar Inc. said it completed a C$197.05 million private placement of subscription receipts with Canada Pension Plan Investment Board and the Caisse de depot et placement du Quebec. The company also raised C$225 million in a bought-deal public offering of the receipts at the same price.
In the placement, the company sold 8,210,610 receipts at C$24.00 apiece. The purchase price is a 5.54% premium to C$22.74, the June 1 closing share price.
Proceeds will be used in connection with the company's acquisition of WSP Group plc.
The Montreal company provides consulting services in planning, engineering, architecture, surveying, environmental sciences and project and construction management.
| Issuer: | Genivar Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$197,054,640
|
| Receipts: | 8,210,610
|
| Price: | C$24.00
|
| Warrants: | No
|
| Investors: | Canada Pension Plan Investment Board and the Caisse de depot et placement du Quebec
|
| Pricing date: | June 4
|
| Settlement date: | June 21
|
| Stock symbol: | Toronto: GNV
|
| Stock price: | C$22.74 at close June 1
|
| Market capitalization: | C$734.49 million
|
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