Trisura Group Completes $58 Million Bought Deal Public Offering and Concurrent Private Placement
Sep 24, 2019, 08:56 ET
TORONTO, Sept. 24, 2019 /CNW/ - Trisura Group Ltd. ("Trisura" or "Trisura Group") (TSX: TSU), today announced that it has completed its previously announced public offering of 1,743,400 common shares, including 227,400 common shares issued pursuant to the full exercise of the underwriters' over-allotment option, at a price of $26.40 per common share, for gross proceeds of approximately $46 million. The public offering was completed on a bought deal basis by a syndicate of underwriters led by Cormark Securities Inc. and BMO Nesbitt Burns Inc.
Concurrent with the public offering, Trisura issued 378,788 common shares to its principal shareholder, Partners Value Investments LP, and an aggregate of 75,751 common shares to certain other investors on a private placement basis, for gross proceeds of approximately $12 million.
In total, Trisura received gross proceeds of approximately $58 million from the closing of the public offering and the concurrent private placement.
About Trisura Group
Trisura Group Ltd. is an international specialty insurance holding company operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company in Canada, Trisura Specialty Insurance Company in the U.S. and Trisura International Insurance Ltd. in Barbados. Trisura Group is listed on the Toronto Stock Exchange under the symbol "TSU".
Further information is available at http://www.trisura.com/group. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Details regarding the operations of Trisura Group are also set forth in regulatory filings. A copy of the filings may be obtained on Trisura Group's SEDAR profile at www.sedar.com.
SOURCE Trisura Group Ltd.
For further information: Name: Bryan Sinclair, Tel: 416 607 2135, Email: [email protected]
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