THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Nov. 22, 2024 (GLOBE NEWSWIRE) — Stack Capital Group Inc. (“Stack Capital”) (TSX: STCK) is pleased to announce that it has closed the second and final tranche of its previously announced private placement (the “Offering”) of up to 1,515,908 units (the “Units”) of Stack Capital (including pursuant to the exercise in full of the agents option) for aggregate gross proceeds of up to $16.675 million, priced at $11.00 per Unit. The second tranche of the Offering consisted of the sale of 78,069 Units for gross proceeds of $858,759 and brought the total gross proceeds of the Offering to $16.675 million. The Offering was conducted on a best efforts basis by a syndicate of agents (the “Agents”) bookrun by Raymond James Ltd., Canaccord Genuity Corp., RBC Capital Markets and TD Securities Inc., and includes Scotia Capital Inc., Wellington-Altus Financial Inc. and National Bank Financial Inc., pursuant to the terms and conditions of an agency agreement between Stack Capital, SC Partners Ltd. (the manager of Stack Capital) and the Agents. Each Unit is comprised of one common share (a “Common Share”) and one-half of one common share purchase warrant of Stack Capital (each whole common share purchase warrant, a “Warrant”). Each Warrant is exercisable to acquire one common share of Stack Capital (a “Warrant Share”) at any time prior to 4:00 p.m. (Toronto, Ontario time) on October 30, 2027, at an exercise price of $11.00 per Warrant Share, subject to adjustment in certain events. The Warrants are being issued pursuant to a warrant indenture entered into between Stack Capital and Computershare Trust Company of Canada, as warrant agent (the “Warrant Indenture”). A copy of the Warrant Indenture can be found on Stack Capital’s profile on www.sedarplus.ca. The net proceeds of the Offering will be used for general corporate purposes and investments in accordance with Stack Capital’s investment principles. The securities issued under the second tranche of the Offering have a hold period of four months and one day from today. Stack Capital is excited to welcome a number of new investors, including institutions and family offices, to its shareholder base as part of the Offering, further enhancing its strong level of institutional support. The Offering serves as a testament to market confidence in Stack Capital, its investment approach, and its ability to deliver long-term value for shareholders. The Offering and the listing of the Common Shares and Warrant Shares issuable under the Offering has been conditionally approved by the Toronto Stock Exchange (the “TSX”) subject to the satisfaction of customary conditions. No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release is for information purposes only and does not constitute an offer to se
Lun. Dic 23rd, 2024
