People Corporation completes C$25 million bought deal private placement of common shares

Torys acted as counsel to the syndicate of underwriters with a team that included Scott Cochlan, Jennifer Baugh and Michelle Holmes (corporate/securities).

On April 16, 2020, People Corporation announced the closing of its previously announced bought deal private placement common share offering with a syndicate of underwriters led by Cormark Securities Inc. and including Acumen Capital Finance Partners Limited, National Bank Financial Inc., BMO Capital Markets, CIBC World Markets Inc. and TD Securities Inc.

Pursuant to the offering, the company issued 3,500,000 common shares at a price of C$7.15 per share, including 423,000 shares issued pursuant to the exercise of the underwriters' over-allotment option, for gross proceeds of C$25,025,000.

The net proceeds of the offering will be used to fund growth initiatives (including future acquisitions) and for general corporate purposes.

People Corporation is a national provider of group benefits, group retirement and human resource services.

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