TerraVest Industries Inc. Announces $240 Million Bought Deal Offering of Common Shares

Core Viewpoint - TerraVest Industries Inc. has announced a bought deal offering of 1,500,000 common shares at a price of $160.30 per share, aiming for gross proceeds of approximately $240.45 million to support debt repayment and future acquisitions [2][4]. Group 1: Offering Details - The offering will be conducted by a syndicate of underwriters, including National Bank Financial Markets, Canaccord Genuity, and Desjardins Capital Markets [2]. - An over-allotment option allows underwriters to purchase an additional 225,000 shares, potentially increasing total gross proceeds to $276.52 million if fully exercised [3]. - The closing of the offering is expected around May 23, 2025, pending regulatory approvals [7]. Group 2: Use of Proceeds - Net proceeds from the offering will initially be allocated to repay existing debt and support general corporate activities, with future acquisitions in mind [4][5]. Group 3: Company Overview - TerraVest is a diversified industrial company focused on manufacturing and selling goods and services across various end-markets, including home heating products and energy processing equipment [11]. - The company aims to acquire and operate market-leading businesses, leveraging its financial and operational support [11].