Sienna Senior Living Bought Deal Public Offering

Goodmans LLP acted for Sienna Senior Living Inc. (“Sienna”) in connection with an $86 million bought deal public offering (the “Offering”)  led by TD Securities Inc.  Under the Offering, Sienna sold 5,750,000 common shares (the “Common Shares”) at a price of $15.00 per Common Share (the “Offering Price”) for gross proceeds of $86 million which included Common Shares sold on the exercise in full of the over-allotment option. 

The Company used the net proceeds of the Offering to partially fund the acquisitions of (i) a 50% ownership interest in eleven seniors' living assets comprised of 1,048 private-pay suites in Ontario and Saskatchewan; (ii) a 50% ownership interest in a retirement residence comprised of 186 private-pay suites located in Saskatoon, Saskatchewan; and (iii) a seniors’ living residence comprised of 55 private-pay suites and 123 government-funded Class A long-term care beds located in Barrie, Ontario (collectively, the “Acquisitions”), and to pay the Company's expenses in connection with the Acquisitions.