Opérations et transactions|27 février 2012
Student Transportation Inc. announces C$75 million public offering of common shares in the United States and Canada
Torys acted as counsel to the underwriters with a team in Toronto that included Kevin Morris, Gabi Mandowsky, Tom Miller, Andrew Wong, Michael Fortier, Stephen Abrahamson and Graeme Murray and in New York with a team that included Christopher Roehrig, Andy Beck and Ari Feder.
On February 27, 2012, Student Transportation Inc. (TSX:STB)(NASDAQ:STB)(STI) announced that it has entered into an agreement, on a bought deal basis, to sell 10,950,000 common shares of STI (the Common Shares) at a price of C$6.85 per Common Share to raise gross proceeds of C$75 million. This offering of common shares is in the United States and Canada. This is STI's first offering of common shares in the United States.
The transaction is being underwritten by a syndicate led by BMO Capital Markets. The underwriters have the option to purchase up to an additional 15% of the offering at any time up to 30 days after the closing date. Closing of the offering is expected to occur on or about March 19, 2012, and is subject to regulatory approvals. The net proceeds of the offering will be used to repay debt and for general corporate purposes.
Student Transportation is a provider of school bus transportation services and operates in two segments: school bus transportation and an oil and gas portfolio.
Further information can be found at Marketwire's website.
The transaction is being underwritten by a syndicate led by BMO Capital Markets. The underwriters have the option to purchase up to an additional 15% of the offering at any time up to 30 days after the closing date. Closing of the offering is expected to occur on or about March 19, 2012, and is subject to regulatory approvals. The net proceeds of the offering will be used to repay debt and for general corporate purposes.
Student Transportation is a provider of school bus transportation services and operates in two segments: school bus transportation and an oil and gas portfolio.
Further information can be found at Marketwire's website.