Diversified Royalty Corp. (“DIV”) closed a bought deal public offering of 10,810,000 common shares from the treasury of DIV, including 1,410,000 common shares issued pursuant to the full exercise of the over-allotment option, at a price of $3.20 per common share for total gross proceeds of approximately $34.6 million (the “Offering”).
The Offering was sold to a syndicate of underwriters led by Cormark Securities Inc. and which included CIBC Capital Markets, Stifel Nicolaus Canada Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., PI Financial Corp., Haywood Securities Inc., Industrial Alliance Securities Inc. and Paradigm Capital Inc.
DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.
