Company raises C$206.99 million in public sale of stock at same price
By Devika Patel
Knoxville, Tenn., March 31 - WSP Global Inc. said it completed an C$85.99 million private placement of stock. The company also raised C$206.99 million in a public offering at the same price per share.
The company sold 2,547,750 common shares at C$33.75 apiece . The price per share represents a 3.98% discount to C$35.15, the March 28 closing share price.
Canada Pension Plan Investment Board invested C$39.99 million, and the Caisse de depot et placement du Quebec invested C$45.99 million.
The deal was conducted alongside a C$206.99 million public sale of 6,132,950 shares, including 799,950 shares sold in as a greenshoe option. The public offering was underwritten by a syndicate of underwriters co-led by CIBC, Raymond James Ltd., BMO Capital Markets and National Bank Financial Inc. and included joint bookrunners CIBC and Raymond James Ltd.
Proceeds will be used for the purchase price and related transaction costs in connection with the company's planned acquisition of Focus Group Holding Inc., to pay down debt under the company's credit facility and for general corporate purposes.
The Montreal company provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources.
| Issuer: | WSP Global Inc.
|
| Issue: | Common shares
|
| Amount: | C$85,986,563
|
| Shares: | 2,547,750
|
| Price: | C$33.75
|
| Warrants: | No
|
| Investors: | Canada Pension Plan Investment Board (for C$39,993,750) and the Caisse de depot et placement du Quebec (for C$45,992,813)
|
| Settlement date: | March 31
|
| Stock symbol: | Toronto: WSP
|
| Stock price: | C$35.15 at close March 28
|
| Market capitalization: | C$1.87 billion
|
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