TerraVest Industries Inc. Announces Increase to Previously Announced Bought Deal Offering of Common Shares From $240 Million to $279 Million

Core Viewpoint - TerraVest Industries Inc. has announced an increase in its bought deal treasury offering due to strong investor demand, aiming to raise approximately $278.9 million through the sale of 1,740,000 common shares at a price of $160.30 per share [1][2]. Group 1: Offering Details - The offering consists of 1,740,000 common shares priced at $160.30 each, resulting in gross proceeds of approximately $278,922,000 [1]. - An Over-Allotment Option allows underwriters to purchase an additional 261,000 shares, potentially increasing total gross proceeds to $320,760,300 if fully exercised [2]. - The offering will be conducted via a prospectus supplement to the base shelf prospectus dated May 8, 2024, and may also be offered in the U.S. under certain exemptions [3]. Group 2: Use of Proceeds and Closing - The use of proceeds from the offering will remain consistent with previous disclosures made by the company [4]. - The closing of the offering is anticipated around May 23, 2025, pending customary regulatory approvals [4]. Group 3: Company Overview - TerraVest is a diversified industrial company that manufactures and sells products across various end-markets, including home heating products and transport vehicles for propane and natural gas liquids [8]. - The company focuses on acquiring and operating market-leading businesses, leveraging its financial and operational support [8].