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DENTALCORP CLOSES BOUGHT DEAL OFFERING OF SUBORDINATE VOTING SHARES FOR GROSS PROCEEDS OF APPROXIMATELY $115 MILLION

Wednesday, January 19, 2022

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TORONTO, Jan. 19, 2022 /CNW/ - dentalcorp Holdings Ltd. ("dentalcorp" or the "Company") (TSX: DNTL), Canada's largest and fastest growing network of dental practices, today announced the closing of its previously announced bought deal offering of 7,055,250 subordinate voting shares of the Company ("Subordinate Voting Shares") (including 920,250 Subordinate Voting Shares issued pursuant to the exercise in full of the over-allotment option granted by the Company to the Underwriters (as defined below)) at a price of $16.30 per Subordinate Voting Share, for total gross proceeds to the Company of approximately $115.0 million (the "Offering").

The Offering was made through a syndicate of underwriters led by CIBC Capital Markets ("CIBC"), BMO Capital Markets ("BMO") and TD Securities Inc. (together with CIBC and BMO, the "Joint Book Runners"), and including Jefferies Securities, Inc., RBC Capital Markets, Canaccord Genuity Corp., BofA Securities and Scotia Capital Inc. (collectively, the "Underwriters").

In connection with the Offering, each of the Company and certain institutional shareholders, agreed to a lock-up period of 90 days, during which time they will be restricted from disposing of any securities of dentalcorp without the prior consent of the Joint Book Runners, on behalf of the Underwriters, subject to certain exemptions.

The Offering was completed in Canada by way of a prospectus supplement dated January 14, 2022 to its short form base shelf prospectus dated January 14, 2022, and filed with the securities regulatory authorities in each of the provinces and territories of Canada, copies of which are available under the Company's profile on SEDAR at www.sedar.com.

The Subordinate Voting Shares issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States, except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. 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 the solicitation of an offer to buy, nor shall there be any sale of the Subordinate Voting Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About dentalcorp

dentalcorp is Canada's largest and fastest growing network of dental practices, committed to advancing the overall well-being of Canadians by delivering the best clinical outcomes and unforgettable experiences. dentalcorp acquires leading dental practices, uniting them in a common goal: to be Canada's most trusted healthcare network. Leveraging its industry-leading technology, know-how and scale, dentalcorp offers professionals the unique opportunity to retain their clinical autonomy while unlocking their potential for future growth. To learn more, visit dentalcorp.ca.

SOURCE dentalcorp Holdings Ltd.


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