Skip to main content

PLEASE NOTE: For everyone’s safety, Fasken recommends anyone on-site at our Canadian offices be familiar with the COVID-19 recommendations in place which may include one or more of the following: social distancing, hand sanitizing, wearing a mask in common areas and proof of full vaccination. These measures apply to lawyers, staff, clients, service providers and other visitors.

Client Work

ADF Group closes US$13 million bought deal financing

Fasken
Reading Time 1 minute read Subscribe

Overview

Client

ADF Group

On November 23, 2007, ADF Group Inc. announced the closing of the previously announced "bought deal" offering of an aggregate of 2,000,000 subordinate voting shares at a price of $6.50 per share, of which 1,500,000 shares were issued and sold by ADF from treasury and 500,000 shares were sold by Groupe JPMP Inc., a holding company controlled directly or indirectly by Jean Paschini, Pierre Paschini and Marise Paschini, each of whom is an executive officer and director of ADF. The syndicate of underwriters was led by GMP Securities L.P. and included Blackmont Capital Inc., Northern Securities Inc. and Laurentian Bank Securities Inc. The net proceeds received by ADF before the expenses of the offering is $9,262,500. ADF intends to use up to $8,500,000 of the net proceeds to acquire new automated equipments for its fabrication plant in order to perform contracts recently awarded and the remaining portion for general corporate purposes. ADF has not received any proceeds from the secondary offering. ADF is a North American leader in the design, engineering, fabrication and selective installation of complex steel superstructures, as well as in architectural metal work. ADF was represented by Fasken Martineau with a team that included Frédéric Boucher, Jean Michel Lapierre and Judy Kremer (corporate/securities) and Gilles Carli (tax).

Team

    Subscribe

    Receive email updates from our team

    Subscribe