On June 30, 2021, Wildpack Beverage Inc. (“Wildpack” or the “Company”) closed a bought deal offering of 20,000 debenture units (the "Debenture Units") of the Company which includes the full exercise of a 15% overallotment option (the "Offering"). The Offering was led by Stifel GMP as sole bookrunner and lead underwriter.
Each Debenture Unit consists of (i) one 8% senior unsecured convertible debenture having a face value of $1,000, which is convertible into common shares of the Company (each a "Common Share") at a conversion price of $1.51 per Common Share and matures on June 30, 2025; and (ii) 332 common share purchase warrants of the Company entitling the holder thereof to purchase one Common Share at $1.81 per share until June 30, 2023.
The Debenture Units were offered by way of a short form prospectus filed in all provinces of Canada (except Quebec). The Company intends to use the net proceeds from the Offering for strategic acquisitions, capital expenditures for capacity expansion, working capital and general corporate requirements.
Fasken advised Wildpack with a team led by Steve Saville and Jon Conlin and included Brandon Deans and Camille Malone (Corporate Finance & Securities).
Jurisdiction
- British Columbia
