Date Closed

February 24, 2022

Lead Office

Toronto

Value

40.00 Million CAD

On February 24, 2022, Canadian Banc Corp. completed the C$40 million overnight offering of Preferred Shares and Class A Shares, bringing the Company’s net assets to approximately C$291.8 million. The Preferred Shares were offered at a price of C$10.35 per Preferred Share to yield 4.8% and the Class A Shares were offered at a price of C$15.75 per Class A Share with a target yield of 15.0%. The offering was led by National Bank Financial Inc.

McCarthy Tétrault LLP advised National Bank Financial Inc. with a team led by Andrew Armstrong that included Michael Eldridge, Paul Santache (Business), Fred Purkey and Gabrielle Richards (Tax).