/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
TORONTO, Feb. 23, 2021 /CNW/ - Dye & Durham
Limited ("Dye & Durham" or the "Company") (TSX:
DND), a leading provider of cloud-based software and technology
solutions designed to improve efficiency and increase productivity
for legal and business professionals, today announced the closing
of its previously announced bought deal offering (the
"Offering") of common shares ("Common Shares") and
3.75% convertible senior unsecured debentures of the Company due
March 1, 2026 (the
"Debentures"). Pursuant to the Offering, the Company issued
a total of (i) 3,960,400 Common Shares at a price of $50.50 per Common Share for gross proceeds to the
Company of approximately $200 million and (ii) $300 million aggregate principal amount of
Debentures at a price of $1,000 per
Debenture. The Underwriters have an over-allotment option
exercisable for 30 days following the date hereof to purchase up to
an additional 540,060 Common Shares at a price of $50.50 per Common Share and $45 million principal amount of Debentures.
The Offering was conducted through a syndicate of underwriters
(the "Underwriters") led by Canaccord Genuity Corp., BMO
Capital Markets and Scotiabank. Goodmans LLP acted as legal counsel
to the Company, and Osler, Hoskin
and Harcourt LLP acted as legal counsel to the Underwriters.
No securities regulatory authority has either approved or
disapproved the contents of this news release. This news release
does not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale or any acceptance of an
offer to buy these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
The securities have not been and will not be registered under
the United States Securities Act of 1933 (the "U.S. Securities
Act"), as amended, or any state securities laws, and may not be
offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or
benefit of, "U.S. persons" (as defined in Regulation S under the
U.S. Securities Act). Accordingly, the securities may not be
offered or sold within the United
States unless registered under the U.S. Securities Act and
applicable state securities laws or pursuant to exemptions from the
registrations requirements of the U.S. Securities Act and
applicable state securities laws.
About Dye & Durham
Dye & Durham Limited is a leading provider of cloud-based
software and technology solutions designed to improve efficiency
and increase productivity for legal and business professionals. Dye
& Durham provides critical information services and workflows,
which clients use to manage their process, information and
regulatory requirements. The Company has operations in Canada and the United Kingdom, and has a strong blue-chip
customer base that includes law firms, financial service
institutions, and government organizations
Additional information can be found at www.dyedurham.com.
Forward-looking Statements
This press release may contain forward-looking
information within the meaning of applicable securities
laws, which reflects the Company's current expectations
regarding future events. Forward-looking information is based on a
number of assumptions and is subject to a number of risks and
uncertainties, many of which are beyond the Company's control,
which could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
information. Such risks and uncertainties include, but are not
limited to, the factors discussed under "Risk Factors" in
the prospectus supplement of the Company dated November 18, 2020 to the the short-form base
shelf prospectus of the Company dated November 18, 2020. Dye & Durham does not
undertake any obligation to update such forward-looking
information, whether as a result of new information, future events
or otherwise, except as expressly required by applicable
law.
SOURCE Dye & Durham