Company is raising proceeds for working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 21 – Osisko Gold Royalties Ltd. said it plans a private placement of special warrants to raise C$200.02 million with a C$30 million greenshoe.
The company will sell 10.96 million special warrants at C$18.25 each. The per-warrant price is a 2.72% discount to the Jan. 20 closing share price of C$18.76.
The special warrants are convertible into units of one common share and one half-share warrant, with each whole warrant exercisable at $36.50 for seven years.
Settlement of the final tranche is expected Feb. 20.
The deal will be conducted on a bought-deal basis by a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. and RBC Capital Markets.
Proceeds will be used for working capital and general corporate purposes.
Montreal-based Osisko is a gold-focused royalty and stream company.
| Issuer: | Osisko Gold Royalties Ltd.
|
| Issue: | Special warrants convertible into units of one common share and one half-share warrant
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| Amount: | C$200.02 million
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| Greenshoe: | C$30,003,000
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| Warrants: | 10.96 million
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| Price: | C$18.25
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| Warrants: | One half-share warrant per unit upon conversion
|
| Warrant expiration: | Seven years
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| Warrant strike price: | $36.50
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| Underwriters: | Macquarie Capital Markets Canada Ltd. and RBC Capital Markets (co-leads)
|
| Pricing date: | Jan. 21
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| Settlement date: | Feb. 20
|
| Stock symbol: | Toronto: OR
|
| Stock price: | C$18.76 at close Jan. 20
|
| Market capitalization: | C$825.8 million
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