Aecon Announces $150 Million Bought Deal Offering of Common Shares

Core Viewpoint - Aecon Group Inc. has announced a bought deal agreement to sell 3,822,000 common shares at a price of $39.25 per share, aiming for gross proceeds of approximately $150 million [1][2]. Group 1: Offering Details - The offering will be conducted by a syndicate of underwriters led by CIBC Capital Markets and TD Securities Inc. [1] - An over-allotment option allows underwriters to purchase an additional 573,300 shares, potentially raising up to $23 million in gross proceeds [2]. - The shares will be offered via a short form prospectus in all provinces of Canada and may also be privately placed in the U.S. under exemptions from registration [3]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily be used to repay amounts drawn under the company's revolving credit facility [2]. - Any excess net proceeds will be allocated for general corporate purposes [2]. Group 3: Regulatory and Closing Information - The offering is subject to customary regulatory approvals, including the Toronto Stock Exchange's approval for the listing of the shares [3]. - The closing of the offering is expected to occur around March 27, 2026 [3].