Mullen greenshoe increases convertibles due 2026 to C$125 million

Chicago, June 21 – The underwriters of Mullen Group Ltd.’s 5.75% convertible debentures due Nov. 30, 2026 exercised their over-allotment option in full, increasing the size of the issue to C$125 million, according to a press release.

The closing of the over-allotment option is expected for June 25.

RBC Capital Markets, CIBC Capital Markets and Scotiabank led the syndicate of underwriters for the bought deal, with an issue size of C$110 million.

The initial size of the deal was C$75 million with a C$11.25 million greenshoe but was upsized due to investor demand, the company said in a press release.

Net proceeds will be used for general corporate purposes, including future acquisitions in the company’s trucking/logistics segment.

Mullen Group is an Okotoks, Alta.-based supplier of trucking and logistics services in Canada.

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