Extendicare completes C$200 million private placement of common shares
Torys acted as counsel to Extendicare with a team that includes Simon Knowling, Robbie Leibel and Sarah Rimer (corporate/Canadian Securities), Chris Bornhorst and Jude Gee (U.S. securities).
On December 3, 2025, Extendicare Inc. (“Extendicare”) announced that it completed its previously announced “bought deal” private placement of common shares of Extendicare. Pursuant to the private placement, Extendicare issued an aggregate of 10,640,000 common shares at an issue price of C$18.80 per common share, for gross proceeds of approximately C$200 million.
The private placement was co-led by CIBC Capital Markets, as sole bookrunner, and BMO Capital Markets, on behalf of a syndicate of underwriters that included National Bank Financial Inc., RBC Capital Markets, TD Securities Inc., ATB Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc. and Desjardins Securities Inc.
Extendicare intends to use the proceeds from the private placement (net of underwriters’ fees) of approximately C$192 million to partially fund its previously announced acquisition of all of the equity interests of CBI Home Health LP, CBI (GP) 3 Inc. and their respective subsidiaries from CBI Health LP and CBI GP Holdco Inc. for a cash purchase price of C$570 million.
Further information can be found on Globe Newswire’s website.
Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Network brands. Extendicare operates a network of 99 long-term care homes (59 owned, 40 under management contracts), deliver approximately 13.5 million hours of home health care services annually, and provide group purchasing services to third parties representing approximately 152,100 beds across Canada.