Regal Lifestyle Completes $153.8 Million Initial Public Offering
|Areas||Banking and Finance Law, Commercial Real Estate, Corporate Finance and Securities, Health Care Law|
Goodmans represented Regal Lifestyle Communities Inc. (TSX: RLC) (“Regal Lifestyle”) with respect to regulatory issues and The Toronto-Dominion Bank regarding the refinancing of certain mortgages and the establishment of a credit facility for Regal Lifestyle in connection with its initial public offering. On October 16, 2012, Regal Lifestyle completed its initial public offering of 15,379,700 common shares (including the over-allotment) at a price of $10.00 per common share. The offering raised gross proceeds of approximately $153.8 million (including the over-allotment) and was underwritten by a syndicate of underwriters co-led by CIBC and BMO Capital Markets, and including TD Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Raymond James Ltd.
Regal Lifestyle acquires, owns and operates current-generation private-pay retirement homes providing compassionate care, up-market accommodation and amenities, as well as a complete spectrum of lifestyle and healthcare services.