Skip to main content

TDb Split Corp. Announces Successful Overnight Offering

Written by Customer Service on . Posted in Public Companies.

TORONTO, Dec. 10, 2019 (GLOBE NEWSWIRE) — TDb Split Corp. (the “Company”) is pleased to announce it has completed the overnight marketing of up to 2,600,012 Priority Equity Shares and up to 1,568,100 Class A Shares of the Company.  Total gross proceeds of the offering are expected to be approximately $35,643,935.
The offering is being co-led by National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and also includes TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Echelon Wealth Partners Inc., Industrial Alliance Securities Inc., Raymond James Ltd, Desjardins Securities Inc., Hampton Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated.The sales period of the overnight offering has now ended.The offering is expected to close on or about December 23, 2019 and is subject to certain closing conditions including approval by the TSX.The Priority Equity Shares were offered at a price of $10.00 per Share to yield 5.25% and the Class A Shares were offered at a price of $6.15 per Class A Share to yield 9.75%. The closing price on the TSX of each of the Priority Equity Shares and the Class A Shares on December 9, 2019 was $10.10 and $6.31, respectively. The net proceeds of the offering will be used by the Company to invest in common shares of Toronto-Dominion Bank, a leading Canadian Financial institution.The Company’s investment objectives are:Priority Equity Shares:to provide holders of the Priority Equity Shares with fixed, cumulative preferential monthly cash dividends currently in the amount of $0.04375 ($0.525 annually); andon or about the termination date, currently December 1, 2024 (subject to further 5 year extensions thereafter), to pay the holders of the Priority Equity Shares $10.00 per Priority Equity Share.Class A Shares:to provide holders of the Class A Shares with regular monthly cash dividends currently in the amount of $0.05 monthly ($0.60 annually); andto permit holders to participate in all growth in the net asset value of the Company above $10 per Unit, by paying holders on or about the termination date of December 1, 2024 (subject to further 5 year extensions thereafter) such amounts as remain in the Company after paying $10 per Priority Equity Share.The Company will today file an amended and restated preliminary short form prospectus, containing important information relating to the Priority Equity Shares and Class A Shares, with securities commissions or similar authorities in all provinces of Canada.  The amended and restated preliminary short form prospectus is still subject to completion or amendment.  Copies of the amended and restated preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters listed above.  Investors should read the prospectus before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. Investor Relations:  1-877-478-2372        Local:  416-304-4443        www.tdbsplit.com         info@quadravest.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.