Transaction|March 7, 2013
Global Champions Split Corp. completes C$50 million Initial Public Offering
Torys acted as counsel to Global Champions Split Corp. with a team that included Jim Hong, Paulina Taneva, Melissa Prado (corporate/securities) and Andrew Wong (tax).
On March 7, 2013, Global Champions Split Corp. (Global Champions) completed its initial public offering of Class A Preferred Shares, Series 1. The offering raised gross proceeds of C$50.0 million, and was offered by a syndicate of agents led by National Bank Financial Inc., CIBC World Markets, RBC Capital Markets, Scotiabank and TD Securities Inc. and includes BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Macquarie Private Wealth Inc. and Brookfield Financial Corp. (the Agents). A total of 2,000,000 Series 1 Shares were issued at a price of C$25.00 per Series 1 Share. Global Champions also announced that it completed the issuance of 2,000,000 capital shares to BAM Investments Corp.
Global Champions has granted the Agents an over-allotment option to acquire up to an additional 300,000 Series 1 Shares at a price of C$25.00 per Series 1 Share for a period of 30 days after closing of the offering which, if exercised in full, would increase the total gross proceeds of the offering to C$57.5 million.
The Series 1 Shares have been rated Pfd-2 (low) by DBRS Limited. The Series 1 Shares commenced trading March 7, on the Toronto Stock Exchange under the symbol "GCS.PR.A".
Global Champions Split Corp. is a mutual fund corporation incorporated under the laws of the Province of Ontario. The Company invests in a diversified portfolio of large capitalization companies that Brookfield Investment Management (Canada) Inc., as investment fund manager of Global Champions, believes are best in class within their respective industries.
Further information can be found on Marketwire's website.
Global Champions has granted the Agents an over-allotment option to acquire up to an additional 300,000 Series 1 Shares at a price of C$25.00 per Series 1 Share for a period of 30 days after closing of the offering which, if exercised in full, would increase the total gross proceeds of the offering to C$57.5 million.
The Series 1 Shares have been rated Pfd-2 (low) by DBRS Limited. The Series 1 Shares commenced trading March 7, on the Toronto Stock Exchange under the symbol "GCS.PR.A".
Global Champions Split Corp. is a mutual fund corporation incorporated under the laws of the Province of Ontario. The Company invests in a diversified portfolio of large capitalization companies that Brookfield Investment Management (Canada) Inc., as investment fund manager of Global Champions, believes are best in class within their respective industries.
Further information can be found on Marketwire's website.