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Source: Skelton Truck Lines Ltd.
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  • Andlauer Healthcare Group Inc. (AND) and Andlauer Management Group Inc. completed a bought deal offering of 3.5 million subordinate voting shares (SVS)
  • Shares were priced at $48.20 for aggregate gross proceeds of $168.7 million
  • The offering was made up of 2 million SVSs issued from the treasury and offered by AND for gross proceeds of $96.4 million and 1.5 million SVSs were offered by Andlauer Management for gross proceeds of $72.3 million
  • Andlauer intends to use the net proceeds of the sale to pay a portion of the cash purchase price payable in connection with the acquisition of T.F. Boyle Transportation Inc. and the remaining 51 per cent of issued and outstanding shares of Skelton USA Inc.
  • AND is a supply chain management company offering a platform of customized third-party logistics and specialized transportation solutions for the healthcare sector
  • Andlauer Healthcare Group Inc. (AND) is up 0.674 per cent and is trading at $47.80 per cent at 3:19 p.m. ET

Andlauer Healthcare Group Inc. (AND) and Andlauer Management Group Inc. completed a bought deal offering of 3.5 million subordinate voting shares (SVSs).

Shares were priced at $48.20 for aggregate gross proceeds of $168.7 million.

The offering was made up of 2 million SVSs issued from the treasury and offered by AND for gross proceeds of $96.4 million.

1.5 million SVSs were offered by Andlauer Management for gross proceeds of $72.3 million.

The underwriting group was led by CIBC and RBC Capital Markets and included Scotia Capital Inc., Stifel Nicolaus Canada Inc. as well as National Bank Financial Inc.

The underwriters are granted an over-allotment option exercisable for 30 days after the closing of the offering to purchase up to an additional 15 per cent of aggregate SVSs to be sold.

It is comprised of 525,000 SVSs from Andlauer Management but does not include any shares from the treasury.

AND intends to use the net proceeds of the sale to pay a portion of the cash purchase price payable in connection with a previously disclosed acquisition of 100 per cent of issued and outstanding shares of T.F. Boyle Transportation Inc. and the remaining 51 per cent of issued and outstanding shares of Skelton USA Inc.

AND did not receive any proceeds from the sale of SVSs by Andlauer Management.

Andlauer Management held 25.1 million multiple voting shares and 10,200 SVSs of Andlauer prior to the closing of the offering.

It now holds all 23.6 million voting shares and 10,200 SVSs, representing 84.8 per cent of voting power attached to all outstanding shares.

AND is a supply chain management company offering a platform of customized third-party logistics and specialized transportation solutions for the healthcare sector.

Andlauer Healthcare Group Inc. (AND) is up 0.674 per cent and is trading at $47.80 per cent at 3:19 p.m. ET.

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