MARKHAM, Ontario, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX:SIA) today announced that it has successfully completed the previously announced bought deal offering (the "Offering") of common shares of the Company ("Common Shares") to a syndicate of underwriters led by TD Securities Inc., as sole bookrunner, and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., Desjardins Securities Inc., Raymond James Ltd., Canaccord Genuity Corp., Cormark Securities Inc. and iA Private Wealth Inc. (collectively, the "Underwriters").
A total of 9,591,000 Common Shares were issued at a price of $15.00 per Common Share for aggregate gross proceeds of $143,865,000. This includes gross proceeds from the full exercise of the over-allotment option granted to the Underwriters to purchase an additional 1,251,000 Common Shares.
The Company intends to use the net proceeds of the Offering (i) to fund the approximately $15 million equity purchase price for the Company's previously announced acquisition of the remaining 30% ownership interest in Nicola Lodge, a 256-bed best-in-class long-term care community ...
