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Cassels Brock Represents Canaccord Genuity in Automotive Finco Corp.’s $20.6 Million Bought Deal Financing

Published: 06/27/2017

Team: Jay F. King, Gregory Hogan, Kyle Simpson, James Lyle, James G. Morand, Tera Li

On June 27, 2017, Automotive Finco Corp. completed a bought deal prospectus offering for gross proceeds of $20.6 million, by issuing 3,705,000 common shares at a price of $2.70 and $10,615,000 aggregate principal amount of 6.75% convertible senior unsecured debentures due June 30, 2022, including the exercise of the underwriters’ over-allotment option. The syndicate of underwriters was led by Canaccord Genuity Corp., and included Raymond James Ltd., AltaCorp Capital Inc. and Desjardins Securities Inc.

Concurrently, Automotive Finco closed a non-brokered private placement of $20.0 million aggregate principal amount of 6.75% convertible senior unsecured debentures.

Cassels Brock represented the underwriters with a team comprised of Jay F. King, Greg Hogan, Kyle Simpson and James Lyle (Securities), and James Morand and Tera Li (Tax).