Mullen Group closes bought deal offering of 5.75% convertible debentures

On June 21, 2019, Mullen Group Ltd. ("Mullen Group") announced the closing of its previously announced bought deal offering of C$110 million aggregate principal amount of 5.75% convertible unsecured subordinated debentures due November 30, 2026. The debentures are convertible, at the option of the holder, into common shares of Mullen Group at a conversion price of C$14.00 per common share.

The offering was led by a syndicate of underwriters consisting of RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc., as co-lead underwriters, and also included TD Securities Inc., National Bank Financial Inc., Raymond James Ltd., Industrial Alliance Securities Inc. and Peters & Co. Limited.

Mullen Group granted the underwriters an over-allotment option exercisable in whole or in part, at the sole discretion of the underwriters, at any time up to 30 days after closing of the offering, to acquire up to an additional $15,000,000 aggregate principal amount of debentures.

Mullen Group is recognized as one of the leading suppliers of trucking and logistics services in Canada and provides a wide range of specialized transportation and related services to the oil and natural gas industry in western Canada.

Further information can be found on Canada Newswire's website.