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New Look Eyewear completes acquisition and bought deal private placement

Fasken
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Overview

Client

Confidential Client

On November 20, 2013, New Look Eyewear Inc. (TSX: BCI) announced the acquisition of the assets used in carrying on the retail optical and lenses manufacturing business of Vogue Optical Inc. located in Atlantic Canada for a price of approximately $74 million and a “bought deal” private placement subscription receipt financing for aggregate gross proceeds of approximately $25 million to be used to fund a portion of the acquisition price. The bought deal financing was completed on November 29, 2013 and the acquisition on December 2, 2013. Under the bought deal financing, New Look issued 2,155,172 subscription receipts from treasury (exchangeable into common shares upon closing of the acquisition) at a price of $11.60 per subscription receipt through a syndicate of underwriters led by GMP Securities L.P. and including Acumen Capital Finance Partners Limited and National Bank Financial Inc. Jean-Pierre Chamberland, Joëlle El-Féghali and Claude Jodoin acted for the syndicate of underwriters in connection with the private placement financing transaction.

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