Tricon Capital Group Inc. Completes $150 Million Bought Deal Offering
|Areas||Corporate and Commercial, Corporate Finance and Securities, Tax|
Goodmans represented Tricon Capital Group Inc. (Tricon) with the completion of an offering of 13,158,000 common shares at a price of $11.40 per Common Share for aggregate gross proceeds of $150 million. The offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters co-led by RBC Capital Markets and GMP Securities L.P. and including TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Raymond James Ltd., Canaccord Genuity Corp., CIBC World Markets Inc., Paradigm Capital Inc. and Scotiabank. Tricon intends to use the net proceeds from the offering to partially fund future equity requirements in each of the company's business verticals and for general purposes.
Tricon is a principal investor and asset manager focused on the residential real estate industry in North America. Tricon owns, or manages on behalf of third-party investors, a portfolio of investments in land and homebuilding assets, single family rental homes, manufactured housing communities, and multi-family devlopment projects.
Tricon was represented by Goodmans LLP with a team including Stephen Pincus, John Connon and Eric Goldberg (corporate) and Jarrett Freeman (tax). The underwriters were represented by Blake, Cassels & Graydon LLP with a team including Will Fung, Eric Moncik, John Wilkin, Adrian Cochrane and Liam Churchill (securities) and Paul Stepak and Josh Jones (tax).