Fasken advised the dealer syndicate in a public offering of approximately $83 million of subscription receipts to finance a portion of the purchase price paid by the Stingray Digital Group Inc. to acquire Newfoundland Capital Corporation Limited, one of Canada’s leading broadcasters, which operates radio stations in Canada, including Boom 97.3 in Toronto, on May 2, 2018, for a total sum of approximately $506 million.
The acquisition will be financed through $450 million new credit facilities and $180 million of equity, comprised of a $83 million bought deal offering of subscription receipts, a $40 million private placement of subscription receipts to Caisse de dépôt et placement du Québec, $40 million share exchange to NCC shareholders and $17 million from the exercise of preemption rights from the Boyko Group.
The Fasken team was composed of Jean-Pierre Chamberland, Caitlin Rose, Dan Su, Émilie Marceau, Stephen Whitehead and Claude Jodoin.
