Trisura Group Completes C$60 Million Upsized Bought Deal Public Offering and Concurrent Private Placement of C$7.5 Million
May 15 2020 - 8:58AM
Trisura Group Ltd. (“Trisura” or “Trisura Group”) (TSX: TSU), a
leading international specialty insurance company, today announced
that it has completed its previously announced upsized public
offering of 1,289,150 common shares, including 168,150 common
shares issued pursuant to the full exercise of the underwriters’
over-allotment option, at a price of $46.85 per common share, for
gross proceeds of approximately $60 million (the “Offering”). The
Offering was completed on a bought deal basis by a syndicate of
underwriters led by BMO Capital Markets and Cormark Securities Inc.
Concurrent with the Offering, Trisura issued
160,100 common shares to its principal shareholder, Partners Value
Investments Inc., on a private placement basis, for additional
gross proceeds of approximately $7.5 million (the “Private
Placement”).
In total, Trisura received gross proceeds of
approximately $67.5 million from the closing of the Offering and
the Private Placement.
About Trisura Group
Trisura Group Ltd. is an international specialty
insurance provider operating in the surety, risk solutions,
corporate insurance, fronting 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.
For more information, please contact: Name:
Bryan SinclairTel: 416 607 2135 Email:
bryan.sinclair@trisura.com
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