Laurentian Bank Securities completes bought deal private placement with Savaria

On April 15, 2014, Savaria Corporation completed a “bought deal” private placement of 5,750,000 units at a price of $3.25 per unit, for gross proceeds to Savaria of $18,687,500. Each unit was comprised of one common share and one-half of a common share purchase warrant. Each full warrant entitles its holder to subscribe for one additional common share of Savaria at an exercise price of $4.25 for three years. Savaria Corporation is listed on the Toronto Stock Exchange and is North America’s leader in the accessibility industry. Laurentian Bank Securities Inc. was lead underwriter for the “bought deal” private placement. Fasken Martineau acted as legal counsel to Laurentian Bank Securities with a team that included Neil Wiener and Benjamin Somers (Capital Markets).