This website uses cookies for a range of purposes to help us understand your interests and improve the website. By using our website, you acknowledge the use of essential cookies and consent to the use of non-essential cookies, as described in our Cookie Policy. To understand more about how we use cookies or to change your preference and browser settings, please see our Cookie policy

Back toDeals, Cases & Projects
Advanced
Filters

AutoCanada closes C$132.3 million treasury and secondary common share offering

Date Closed

June 3, 2013

Lead Office

Vancouver

Value

132.30 Million CAD

On June 3, 2013, AutoCanada Inc. (AutoCanada or the Company) announced that it had closed its previously announced public offering of common shares. With exercise of the over-allotment option, the Company issued 1,840,000 common shares from treasury at a price of C$25.00 per share for gross proceeds of C$46 million. Concurrently, Canada One Auto Group Ltd. and its subsidiaries (collectively, CAG) sold an aggregate of 3,450,000 common shares for gross proceeds C$86.3 million, for a combined offering of C$132.3 million. Following completion of the offering, CAG owns approximately 22.9% of AutoCanada's issued and outstanding common shares.

AutoCanada, headquartered in Edmonton, Alberta is a multi-location automobile dealership group.

McCarthy Tétrault LLP represented RBC Dominion Securities, the lead underwriter, with a team led by Robin Mahood.

People