CI Financial Confirms Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering of CI U.S. Holdings Inc.’s Common Stock
December 22 2022 - 2:44PM
Business Wire
CI Financial Corp. (TSX: CIX; NYSE: CIXX) (“CI”), the parent of
CI US Holdings Inc. (“CI US”), confirms that CI US has
confidentially submitted a draft registration statement on Form S-1
with the Securities and Exchange Commission (the “SEC”), relating
to a proposed initial public offering of common stock of CI US. The
number of shares to be offered and the price range for the proposed
offering have not yet been determined. The initial public offering
is expected to take place after the SEC completes its review
process, subject to market and other conditions. The company is
making the announcement at this time to be responsive to numerous
requests for an update on the status of the submission, the content
of which remains confidential.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities. Any offers,
solicitations of offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended ("Securities Act"). This
announcement is being issued in accordance with Rule 135 under the
Securities Act.
Forward-Looking Statements
This press release contains forward-looking statements based on
current expectations that involve a number of risks and
uncertainties, including statements relating to the intention to
conduct an IPO of CI U.S. Holdings Inc.’s common stock following
SEC review. All forecasts, projections, future plans or other
statements, other than statements of historical fact, are
forward-looking statements and include words or phrases such as
"believes," "will," "expects," "anticipates," "intends,"
"estimates," "plan," "believe," "would" and words and phrases of
similar import. The forward looking statements in this press
release are also forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Exchange Act, and involve substantial risks and
uncertainties. We can give no assurance that such expectations will
prove to be correct. Actual results could differ materially as a
result of a variety of risks and uncertainties, many of which are
outside of the control of CI. Factors that could cause actual
results to differ materially from expectations include, among other
things, general economic and market conditions (including in U.S.
equity markets), interest and foreign exchange rates, changes in
government regulations or in tax laws, industry competition,
technological developments and other factors described or discussed
in CI’s disclosure materials filed with applicable securities
regulatory authorities from time to time. The foregoing list is not
exhaustive and the reader is cautioned to consider these and other
factors carefully and not to place undue reliance on
forward-looking statements. Except as required by law, CI
undertakes no obligation to update or alter any forward-looking
statement after the date on which it is made, whether to reflect
new information, future events or otherwise.
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Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations United States Jimmy Moock Managing Partner,
StreetCred 610-304-4570 jimmy@streetcredpr.com ci@streetcredpr.com
Canada Murray Oxby Vice-President, Corporate Communications
416-681-3254 moxby@ci.com
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