On December 23, 2016, Shawcor Ltd. (“Shawcor”) completed a bought deal offering of 5,261,250 common shares of Shawcor, including 686,250 common shares pursuant to the full exercise of the over-allotment option, at a price of $32.80 per common share (the “Offering”) for aggregate gross proceeds of approximately $173 million.
The Offering was underwritten by a syndicate led by TD Securities Inc. that included National Bank Financial Inc., Scotiabank, AltaCorp Capital Inc., Cormark Securities Inc., BMO Capital Markets, HSBC Securities (Canada) Inc., Industrial Alliance Securities Inc., J.P. Morgan Securities Canada Inc. and RBC Capital Markets.
Shawcor was represented by an internal team led by Darrell Ewert and Tim Hutzul.
Shawcor was represented externally by Simon Romano, Laura Levine and Victoria Zaric (securities) and Lindsay Gwyer and Eryn Fanjoy (tax) of Stikeman Elliott LLP.
The underwriters were represented by a team from Osler, Hoskin & Harcourt LLP comprising Doug Bryce, Tara Law and Rebecca Wainstein (securities).