Core Points - Extendicare Inc. has completed a private placement of common shares, issuing 10,640,000 shares at an issue price of $18.80, resulting in gross proceeds of approximately $200 million [1][2] - The net proceeds of approximately $192 million will be used to partially fund the acquisition of CBI Home Health by Extendicare's subsidiary, ParaMed Inc. [3] - The private placement was co-led by CIBC Capital Markets and BMO Capital Markets, along with a syndicate of underwriters [2] Financial Details - The total gross proceeds from the private placement amount to approximately $200 million, with net proceeds expected to be around $192 million after deducting underwriters' fees and expenses [1][3] - The previously announced $150 million equity bridge facility will be cancelled following the closing of the private placement [5] Company Overview - Extendicare is a leading provider of care and services for seniors in Canada, operating 99 long-term care homes and delivering approximately 13.5 million hours of home health care services annually [7] - The company employs around 28,000 qualified team members dedicated to providing high-quality care [7]
Extendicare Completes Previously Announced $200 Million Private Placement of Common Shares