AutoCanada closes C$132.3 million treasury and secondary common share offering
Date Closed
June 3, 2013
Lead Office
Vancouver
Value
132.30 Million CAD
On June 3, 2013, AutoCanada Inc. (AutoCanada or the Company) announced that it had closed its previously announced public offering of common shares. With exercise of the over-allotment option, the Company issued 1,840,000 common shares from treasury at a price of C$25.00 per share for gross proceeds of C$46 million. Concurrently, Canada One Auto Group Ltd. and its subsidiaries (collectively, CAG) sold an aggregate of 3,450,000 common shares for gross proceeds C$86.3 million, for a combined offering of C$132.3 million. Following completion of the offering, CAG owns approximately 22.9% of AutoCanada's issued and outstanding common shares.
AutoCanada, headquartered in Edmonton, Alberta is a multi-location automobile dealership group.
McCarthy Tétrault LLP represented RBC Dominion Securities, the lead underwriter, with a team led by Robin Mahood.