TORONTO, Jan. 5, 2021 /CNW/ – Dye & Durham Limited (“Dye & Durham” or the “Company“) (TSX: DND) today announced that it has entered into an agreement with an underwriting syndicate led by Canaccord Genuity Corp. (collectively, the “Underwriters“) in respect of a secondary offering on a bought deal basis of an aggregate of 4,107,000 common shares of the Company (the “Shares“) by Plantro Ltd. (“Plantro“), The Manufacturers Life Insurance Company, Seastone Invest Limited, and certain insiders of the Company (collectively, the “Selling Shareholders“) at a price of $42.75 per Share (the “Offering“). The Company will not receive any proceeds from the Offering.
Plantro has also granted the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the Offering, to purchase up to an additional 15% of the aggregate common shares to be sold pursuant to the Offering.
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