Date Closed

March 18, 2022

Lead Office

Montréal

Value

149.80 Million CAD

On March 18, 2022, Neighbourly Pharmacy Inc. (“Neighbourly”) closed its previously announced public offering (the “Offering”) of 5,175,000 subscription receipts of Neighbourly  (“Subscription Receipts”) at a price of $28.95 per Subscription Receipt for aggregate gross proceeds of approximately $149.8 million, which includes the full exercise of the over-allotment option by the Underwriters.  Neighbourly also closed its previously announced concurrent private placement of 4,150,000 subscription receipts of Neighbourly (“Placement Subscription Receipts”) to an affiliate of Persistence Capital Partners at a price of $28.95 per Placement Subscription Receipt for aggregate gross proceeds of approximately $120 million.

The Subscription Receipts were offered by way of a prospectus supplement dated March 14, 2022 to Neighbourly's short form base shelf prospectus dated October 19, 2021 in all of the provinces and territories of Canada. The Offering was completed through a syndicate of underwriters led by Scotia Capital and RBC Dominion Securities and including BMO Nesbitt Burns Inc., National Bank Financial Inc., Desjardins Securities Inc., TD Securities Inc., Cormark Securities Inc. and iA Private Wealth Inc. ("Underwriters”).

Neighbourly Pharmacy Inc. is a network of community pharmacies headquartered in Toronto, Canada.

McCarthy Tétrault advised Scotia Capital and RBC Dominion Securities with a team led by Hadrien Montagne that included Vincent Laurin, Valérie Trudeau, Romarick Prats and Annie Poirier-Simard (Business).