On June 1, 2021, North American Construction Group Ltd. (“NACG”) (TSX/NYSE: NOA) completed a bought deal short form prospectus offering of 5.50% convertible unsecured subordinated debentures for aggregate gross proceeds of C$65.0 million. A syndicate of underwriters led by National Bank Financial Inc. and including Canaccord Genuity Corp., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., ATB Capital Markets Inc., BMO Nesbitt Burns Inc., and Raymond James Ltd. acted as underwriters for the offering.
The underwriters exercised their over-allotment option in full. On June 4, 2021, NACG completed the C$9.75 million offering of 5.50% convertible unsecured subordinated debentures pursuant to the exercise of the over-allotment option, bringing the total amount raised under the short form prospectus to C$74.75 million.
Fasken represented NACG with a team led by Gordon Raman that included Alex Nikolic, Taisha Lewis, Arie van Wijngaarden and Caitlin Sabetti (Corporate) as well as Mitchell Thaw (Tax).
The underwriters exercised their over-allotment option in full. On June 4, 2021, NACG completed the C$9.75 million offering of 5.50% convertible unsecured subordinated debentures pursuant to the exercise of the over-allotment option, bringing the total amount raised under the short form prospectus to C$74.75 million.
Fasken represented NACG with a team led by Gordon Raman that included Alex Nikolic, Taisha Lewis, Arie van Wijngaarden and Caitlin Sabetti (Corporate) as well as Mitchell Thaw (Tax).
Jurisdictions
- Ontario
- Alberta
