Current Report Filing (8-k)
August 05 2022 - 5:29PM
Edgar (US Regulatory)
0001318220
false
0001318220
2022-08-04
2022-08-04
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant To Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 4, 2022
Waste Connections, Inc.
(Exact name of registrant as specified
in its charter)
Ontario, Canada |
|
1-34370 |
|
98-1202763 |
(State or other jurisdiction
of
Incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification
No.) |
6220 Hwy 7, Suite 600
Woodbridge
Ontario L4H 4G3
Canada
(Address of principal
executive
offices)
Registrant’s telephone number,
including area code: (905) 532-7510
Not Applicable
(Former
name or address, if changed
since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
|
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-(b)) |
|
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section
12(b) of the Act:
Title of each class |
Trading
Symbol(s) |
Name
of each exchange on which registered |
Common Shares, no par value |
WCN |
New
York Stock Exchange (“NYSE”)
Toronto Stock Exchange (“TSX”) |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01. | Entry into a Material Definitive Agreement |
On
August 4, 2022, Waste Connections, Inc. (“Waste Connections” or the “Company”) entered into an
underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc., J.P. Morgan Securities LLC,
MUFG Securities Americas Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein (collectively,
the “Underwriters”), relating to the public offering (the “Offering”) by Waste Connections of $750
million aggregate principal amount of its 4.200% Senior Notes due 2033
(the “Notes”).
The Underwriting Agreement contains customary representations,
warranties and agreements by the Company and customary conditions to closing, obligations of the parties and termination provisions. Additionally,
the Company has agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933,
as amended (the “Securities Act”), or to contribute to payments the Underwriters may be required to make because of any of
those liabilities.
The Offering has been registered under the Securities
Act, pursuant to the Company’s Registration Statement on Form S-3ASR (File No. 333-259244), as supplemented by the Prospectus
Supplement, dated August 4, 2022, relating to the Notes (together with the accompanying base prospectus, dated September 1,
2021, the “Prospectus Supplement”), filed with the Securities and Exchange Commission (the “SEC”) pursuant to
Rule 424(b) of the Securities Act on August 5, 2022.
As
more fully described under the caption “Underwriting (Conflicts of Interest)” in the Prospectus Supplement, from time to time,
certain of the Underwriters and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial
dealings in the ordinary course of business with the Company or its affiliates. They have received, or may in the future receive, customary
fees and commissions for these transactions. In addition, certain of the Underwriters or their affiliates serve various roles under the
revolving credit facility provided for under the Company’s credit agreement, and,
as a result, such Underwriters or their affiliates will indirectly receive a portion of the proceeds of the Offering.
The summary of the Underwriting Agreement in this
report does not purport to be complete and is qualified in its entirety by reference to the full text of the Underwriting Agreement, which
is filed as Exhibit 1.1 hereto, and is incorporated herein by reference.
Item 7.01. | Regulation FD Disclosure. |
On August 4, 2022, Waste Connections
issued a press release announcing the launch of the Offering. A copy of the press release is furnished as Exhibit 99.1 hereto and
is incorporated herein by reference.
On August 4, 2022, Waste Connections
issued a press release announcing the pricing of the Offering. A copy of the press release is furnished as Exhibit 99.2 hereto and
is incorporated herein by reference.
Safe Harbor and Forward-Looking Information
This document contains forward-looking statements
within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (“PSLRA”), including
“forward-looking information” within the meaning of applicable Canadian securities laws. These forward-looking statements
are neither historical facts nor assurances of future performance and reflect Waste Connections’ current beliefs and expectations
regarding future events, including the completion of the Offering. These forward-looking statements are often identified by the words
“may,” “might,” “believes,” “thinks,” “expects,” “estimate,” “continue,”
“intends” or other words of similar meaning. All of the forward-looking statements included in this document are made pursuant
to the safe harbor provisions of the PSLRA and applicable securities laws in Canada. Forward-looking statements involve risks, assumptions
and uncertainties. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking
statements include, but are not limited to, risk factors detailed in the Prospectus Supplement and the accompanying base prospectus, which
are both a part of the Registration Statement, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,
2021 and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022, and
those risk factors set forth from time to time in the Company’s other filings with the SEC and the securities commissions or similar
regulatory authorities in Canada. The closing of the Offering is subject to market conditions and a number of other conditions and approvals.
The final terms may vary as a result of such market and other conditions. There can be no assurance that the Offering will be completed
as described herein or at all. You should not place undue reliance on forward-looking statements, which speak only as of the date of this
document. Waste Connections undertakes no obligation to update the forward-looking statements set forth in this document, whether as a
result of new information, future events, or otherwise, unless required by applicable securities laws.
Item 9.01. | Financial Statements and Exhibits |
The following exhibits are being filed herewith:
Exhibit
Number |
Description |
1.1 |
Underwriting Agreement,
dated as of August 4, 2022, by and among Waste Connections, Inc. and BofA Securities, Inc., J.P. Morgan Securities
LLC, MUFG Securities Americas Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein. |
|
|
99.1 |
Press Release, dated
August 4, 2022, announcing the launch of the Offering. |
|
|
99.2 |
Press Release, dated
August 4, 2022, announcing the pricing of the Offering. |
|
|
104 |
The cover page of Waste Connections, Inc.’s Current Report on Form 8-K formatted in Inline XBRL. |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: August 5, 2022 |
WASTE CONNECTIONS, INC. |
|
|
|
By: |
/s/ Mary Anne Whitney |
|
|
Mary Anne Whitney |
|
|
Executive Vice President and Chief Financial Officer |
Waste Connections (NYSE:WCN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Waste Connections (NYSE:WCN)
Historical Stock Chart
From Apr 2023 to Apr 2024