Diversified Royalty Closes C$57.5 Million Bought Deal Public Offering
Diversified Royalty (DIV.TO) raised C$57.5 million after closing its previously announced bought deal public offering, the company said Monday. The company plans to use the proceeds to fully repay outstanding amounts under an acquisition facility drawn following its recent acquisition of the Mr. Lube + Tires franchisor business. The company also plans to use the funds for working capital and general corporate purposes. The offering comprised 12,339,500 common shares from Diversified Royalty's treasury, including 1,609,500 common shares issued after full exercise of the overallotment option, at a price of C$4.66 per common share. Price: $4.75, Change: $-0.06, Percent Change: -1.25%
Diversified Royalty (DIV.TO) raised C$57.5 million after closing its previously announced bought deal public offering, the company said Monday.
The company plans to use the proceeds to fully repay outstanding amounts under an acquisition facility drawn following its recent acquisition of the Mr.
Lube + Tires franchisor business.
The company also plans to use the funds for working capital and general corporate purposes.
The offering comprised 12,339,500 common shares from Diversified Royalty's treasury, including 1,609,500 common shares issued after full exercise of the overallotment option, at a price of C$4.66 per common share.
Price: $4.75, Change: $-0.06, Percent Change: -1.25%