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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Invesque Inc. Completes Private Placement of Preferred Shares to Funds Managed by Magnetar Financial LLC

2018

Areas Corporate Finance and Securities, Tax

Summary

Invesque Inc. (Invesque) completed a private placement of preferred shares in three tranches for proceeds of US$71.5 million to certain funds managed by Magnetar Financial LLC (Magnetar). The first tranche closed on December 22, 2017 and resulted in the issuance of 2,802,009 Class A Series 1 Convertible Preferred Shares to Magnetar at a price of US$9.4575 per share for aggregate gross proceeds of US$26.5 million.

The second tranche closed on February 9, 2018 which resulted in the issuance of 3,172,086 Class A Series 2 Convertible Preferred Shares for aggregate gross proceeds of US$30 million.

The third and final tranche closed on March 29, 2018 which resulted in the issuance of 1,586,042 Class A Series 3, convertible preferred shares for aggregate gross proceeds of US$15 million. Total proceeds of the private placement totalled US$71.5 million.
The proceeds from the investment will be used for the repayment of debt, for general working capital purposes and to fund future acquisitions.
Invesque is a North American health care real estate company with a growing portfolio of high quality properties located in the United States and Canada and operated by best-in-class senior living and care operators primarily under long-term leases and joint ventures.