LendCare: goeasy Ltd. Announces Exercise of Over-Allotment Option by Underwriters of Previously Announced $150 Million Bought Deal Equity Offering of Subscription Receipts

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES MISSISSAUGA, Ontario, April 13, 2021 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX:GSY), ("goeasy" or the "Company"), a leading full-service provider of goods and alternative financial services, announced today that the underwriters (the "Underwriters") of its previously announced bought deal equity offering of subscription receipts (the "Offering") have exercised in full their option to purchase up to an additional 183,165 subscription receipts of the Company ("Subscription Receipts") at a price of $122.85 per Subscription Receipt, for additional gross proceeds to the Company of approximately $22.5 million. The over-allotment option is expected to close concurrently with the closing of the Offering on April 16, 2021. As a result, the total gross aggregate proceeds of the Offering will be approximately $172.5 million. The proceeds of the Offering will be used by the Company to finance a portion of the purchase price for its previously announced acquisition (the "Acquisition") of LendCare Holdings Inc. The Subscription Receipts will be offered pursuant to a prospectus supplement to the Company's short-form base shelf prospectus dated November 23, 2020, which prospectus supplement is expected to be filed in each of the provinces of Canada, except Québec, on or about April 13, 2021. Further information regarding the Offering and the Acquisition, including related risk factors, will be set out in the prospectus supplement. The Offering is expected to close on or about April 16, 2021 and is subject to certain conditions including, but not limited to, the approval of the Toronto Stock Exchange. The Subscription Receipts and the underlying common shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the "1933 Act") and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or ...Full story available on Benzinga.com