/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES/
MONTRÉAL, Dec. 21, 2017 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Firm"), a leading independent asset management firm, announced today that it has completed its previously announced bought deal public offerings of approximately $169 million in total gross proceeds, including the exercise in full of the underwriters' over-allotment options. The Firm intends to use the net proceeds of the offerings to fund recently announced acquisitions and to reduce indebtedness.
A syndicate of underwriters co-led by National Bank Financial Inc., Desjardins Capital Markets and GMP Securities L.P. purchased on a bought deal basis 6,347,000 Class A Subordinate Voting Shares (the "Class A Shares") at a price of $13.00 per Class A Share for gross proceeds of approximately $82.5 million.
In addition, a syndicate of underwriters co-led by National Bank Financial Inc., Desjardins Capital Markets and Scotiabank purchased on a bought deal basis $86.25 million aggregate principal amount of 5.00% convertible unsecured subordinated debentures due June 30, 2023 (the "Debentures").
The Debentures will bear interest at a rate of 5.00% per annum, payable semi-annually on June 30 and December 31 each year, commencing on June 30, 2018. The Debentures will be convertible at the holder's option into Class A Shares at a conversion price of $18.85 per Class A Share, representing a conversion rate of 53.0504 Class A Shares per $1,000 principal amount of Debentures. The Debentures will mature on June 30, 2023 and may be redeemed by Fiera Capital, in certain circumstances, on or after June 30, 2021. The Debentures will be subordinated to the Firm's senior indebtedness. The Debentures will be listed and posted for trading on the Toronto Stock Exchange under the symbol "FSZ.DB" at the opening of markets today.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, or any state securities laws and such securities may not be offered or sold within the United States or to a U.S. person absent U.S. registration or an applicable exemption from U.S. registration requirements.
This document may contain certain forward-looking statements relating to Fiera Capital. These statements may relate to future events or future performance of Fiera Capital, and reflect management's expectations or beliefs regarding future events, and include Fiera Capital's intended use of proceeds from the offerings. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend" or the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions, the nature of the financial services industry, and the risks and uncertainties detailed from time to time in Fiera Capital's interim and annual consolidated financial statements, and its Annual Report and Annual Information Form filed on www.sedar.com.
Although management believes in the expectations conveyed by the forward-looking statements and which are based on information available to it on the date such statements were made, there can be no assurance that such expectations will prove to be correct and readers are advised that actual results may differ from expected results. Unless otherwise required by applicable securities laws, Fiera Capital expressly disclaims any intention, and assumes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with more than C$123.0 billion in assets under management as at September 30, 2017. The Firm provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Clients and their portfolios derive benefit from Fiera Capital's depth of expertise, diversified offerings and outstanding service. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
In the U.S., asset management services are provided by the Firm's U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training.
Additional information about Fiera Capital Corporation, including the Firm's annual information form, is available on SEDAR at www.sedar.com.
SOURCE Fiera Capital Corporation
For further information: Daniel Richard, Vice President, Corporate Communications and Investor Relations, Fiera Capital Corporation, Tel: (514) 954-6456, [email protected]