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Savaria Corp. completes C$20.3M bought deal private placement

Date closed: 6/16/2016

Value: C$20.3 million   

On June 16, 2016, Savaria Corp. (Savaria) completed a bought deal private placement of 2,600,000 common shares (each, a "share") at a price of C$7.80 per Share, for gross proceeds to Savaria of C$20.28 million, the underwriters having exercised in full their option to increase the initial size of the offering. The Shares issued in connection with this private placement are subject to a statutory hold period which expires on October 17, 2016.

The private placement was led by Cormark Securities Inc.and National Bank Financial Inc. and included the participation of Clarus Securities Inc., Laurentian Bank Securities Inc. and PI Financial Corp.

BLG represented Cormark Securities Inc. with a team led by Philippe Tardif which included Linda Tu and Colin Cameron-Vendrig.