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Equitable Group Inc. closes C$230 million subscription receipt offering

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TD Securities Inc. and RBC Dominion Securities Inc.

On February 16, 2022, Equitable Group Inc. ("Equitable") announced the closing of a C$230 million bought deal offering of subscription receipts (the "Offering"). Pursuant to the Offering, 3,266,000 subscription receipts (the "Subscription Receipts") were issued at an offering price of C$70.50 per Subscription Receipt for gross proceeds of approximately C$230 million.

The net proceeds of the Offering will be used to fund a portion of the purchase price and closing expenses associated with the previously announced acquisition by Equitable Bank of an 84% equity interest in Concentra Bank from Credit Union Central of Saskatchewan.

Fasken acted for a syndicate of underwriters led by TD Securities Inc. and RBC Dominion Securities Inc. in connection with the bought deal offering with a team led by Richard J. Steinberg that included Rachel Charney, Zach Austin, Krysten Zator and Karen Yao (Corporate) and Mitchell Thaw (Tax).


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