Examples of Bought Deal in a sentence
Share issue costs of $1.0 million were paid resulting in net proceeds of $41.4 million received by the Company in relation to the 2020 Bought Deal.
The Company paid the underwriters a cash fee equal to 6.0% of the gross proceeds of the Bought Deal and issued to the underwriters broker warrants the equivalent of 5.0% of the number of units sold pursuant to the Bought Deal (the “Broker Warrants”).
In addition, any proceeds from any other equity and/or debt issues of SNC- Lavalin (other than from the Private Placement) must also be applied towards the Bought Deal Bridge Facility and the Private Placement Bridge Loan Facility, on a pro rata basis.
If SNC-Lavalin draws down under the Bought Deal Bridge Facility, it must apply any proceeds from the Offering to prepay all amounts outstanding.
The Bought Deal Bridge Facility will be used to back-stop the portion of the cash consideration payable in connection with the Acquisition that is expected to come from the proceeds of the Offering.