Canadian Banc Corp. Completes Overnight Offering of $85,005,200
23 Novembro 2023 - 11:15AM
Canadian Banc Corp. (the “Company”) is pleased to announce it has
completed the overnight offering of Preferred Shares (TSX: BK.PR.A)
of the Company. Total gross proceeds of the offering were $85.0
million.
The Preferred Shares will begin trading on the
Toronto Stock Exchange under the existing symbol of BK.PR.A.
The Preferred Shares were offered at a price of
$9.80 per Preferred Share to yield 8.16%.
The offering was led by National Bank Financial
Inc.
The net proceeds of the offering will be used by
the Company to invest in a portfolio consisting primarily of six
publicly traded Canadian Banks as follows:
Bank of Montreal |
Canadian Imperial Bank of Commerce |
Royal Bank of Canada |
The Bank of Nova Scotia |
National Bank of Canada |
The Toronto-Dominion Bank |
Commissions, trailing commissions, management
fees and expenses all may be associated with mutual fund
investments. Investors should read the prospectus supplement to the
Company’s short form base shelf prospectus dated May 17, 2023,
before investing. Mutual funds are not guaranteed, their values
change frequently, and past performance may not be repeated. Please
read the Company’s publicly filed documents which are available at
www.sedarplus.ca.
Investor
Relations: 1-877-478-2372 |
Local:
416-304-4443 |
www.canadianbanc.com |
info@quadravest.com |
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