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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.

Sienna Senior Living Completes $115 Million Common Share Offering


Areas Corporate Finance and Securities, Health Care Law, Tax


Goodmans represented Sienna Senior Living Inc. (“Sienna”) (TSX:SIA) in connection with the completion of an offering of common shares at a price of $17.45 per common share, on a bought deal basis. The syndicate of underwriters were co-led by TD Securities Inc. and BMO Capital Markets and included CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc., Raymond James Ltd. and Eight Capital. The Underwriters exercised their over-allotment option in full, resulting in the issuance of 6,590,650 common shares for total gross proceeds of $115 million. 

Sienna used the proceeds from the offering to fund a portion of the acquisition of two market leading luxury retirement residences located in Barrie, Ontario and Kingston, Ontario, which closed in the fourth quarter of 2017. A portion of proceeds will be used for the repayment of debt incurred in connection with previously completed acquisitions in 2017.

Sienna is a leading seniors’ living provider with 71 residences in key markets in Canada. Sienna offers a full range of seniors’ living options, including independent and assisted living, long-term care, and specialized programs and services. Sienna also provides expert management services.