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Client Work

Héroux-Devtek completes $50 million equity financing

Fasken
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Overview

Client

Héroux-Devtek Inc.

On June 26, 2014, Héroux-Devtek Inc., a leading Canadian manufacturer of aerospace products, completed an equity financing comprised of a “bought deal” short form prospectus offering of 3,158,000 common shares at a price of $11.75 per share for gross proceeds of $37,106,500 and concurrent private placements of an aggregate of 1,097,871 common shares at a price of $11.75 per share for gross proceeds of $12,899,984.

The syndicate of underwriters for the public offering was co-led by National Bank Financial Inc. and TD Securities Inc., acting as co-lead underwriters and joint bookrunners, and included Scotia Capital Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc. and Raymond James Ltd. The investors in the concurrent private placements were the Caisse de dépôt et placement du Québec and the Solidarity Fund QFL.

Héroux-Devtek used the net proceeds from the public offering and the concurrent private placements to repay indebtedness under its credit facility.

Fasken Martineau acted as legal counsel to Héroux-Devtek with a team that included Robert Paré, Jean Michel Lapierre, Joëlle Simard (corporate/securities) and Gilles Carli (tax).

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