Transaction|November 9, 2011
Whistler Blackcomb completes C$300 million offering of common shares and exercises C$45 million over-allotment option
Torys acted as counsel to the underwriters with a team that included Jamie Scarlett, Adam Armstrong, Morgan Crockett, Robbie Leibel and Leila Ross (corporate/securities), Daniel Raglan (U.S. matters), Graham Rawlinson (real estate), Corrado Cardarelli and Catrina Card (tax), Mitch Frazer and Adrienne DiPaolo (pensions and employment), Dennis Mahony and Tyson Dyck (environment) and Ebad Rahman (IP).
On November 9, 2010, Whistler Blackcomb Holdings Inc. (Whistler Blackcomb) announced the completion of its initial public offering (the offering) of 25,000,000 common shares at a price of C$12.00 per share for gross proceeds of approximately C$300 million. The proceeds of the offering were used to facilitate the acquisition of a 75% interest in the partnerships that operate Whistler Blackcomb from Intrawest ULC. Further information regarding the offering is available on SEDAR. Whistler Blackcomb's common shares began trading the TSX under the symbol "WB".
On November 16, 2010, Whistler Blackcomb announced that the underwriters purchased from Intrawest ULC (Intrawest) an additional 3,750,000 common shares of Whistler Blackcomb at a price of C$12.00 per share for gross proceeds of C$45 million pursuant to an over-allotment option (the over-allotment) granted to the underwriters in connection the offering. Whistler Blackcomb did not receive any proceeds from the sale of these additional shares.
The offering was made through a syndicate of underwriters led by CIBC and RBC Capital Markets and included Scotia Capital Inc., BMO Capital Markets, TD Securities Inc., Goldman Sachs Canada Inc., Canaccord Genuity Corp., Desjardins Securities Inc., HSBC Securities (Canada) Inc. and Raymond James Ltd. (the underwriters).
Following completion of the offering and the over-allotment, Intrawest will hold approximately 24% of the common shares of Whistler Blackcomb.
The shares have not been and will not be registered under the U.S. Securities Act.
Whistler Blackcomb Holdings has been ranked as North America's top ski and snowboard resort. Whistler Blackcomb, the official alpine skiing venue for the 2010 Olympic and Paralympic Winter Games, is situated in the Resort Municipality of Whistler.
Further information is found on Canada Newswire.
On November 16, 2010, Whistler Blackcomb announced that the underwriters purchased from Intrawest ULC (Intrawest) an additional 3,750,000 common shares of Whistler Blackcomb at a price of C$12.00 per share for gross proceeds of C$45 million pursuant to an over-allotment option (the over-allotment) granted to the underwriters in connection the offering. Whistler Blackcomb did not receive any proceeds from the sale of these additional shares.
The offering was made through a syndicate of underwriters led by CIBC and RBC Capital Markets and included Scotia Capital Inc., BMO Capital Markets, TD Securities Inc., Goldman Sachs Canada Inc., Canaccord Genuity Corp., Desjardins Securities Inc., HSBC Securities (Canada) Inc. and Raymond James Ltd. (the underwriters).
Following completion of the offering and the over-allotment, Intrawest will hold approximately 24% of the common shares of Whistler Blackcomb.
The shares have not been and will not be registered under the U.S. Securities Act.
Whistler Blackcomb Holdings has been ranked as North America's top ski and snowboard resort. Whistler Blackcomb, the official alpine skiing venue for the 2010 Olympic and Paralympic Winter Games, is situated in the Resort Municipality of Whistler.
Further information is found on Canada Newswire.