dentalcorp Announces Exercise and Closing of Over-Allotment Option and Conversion of Subscription Receipts

dentalcorp Holdings Ltd. (“dentalcorp” or the “Company”), Canada’s leading network of dental practices, announced today that further to its $700,000,000.00 initial public offering (the “IPO”) of subordinate voting shares of the Company (“Subordinate Voting Shares”) which closed on May 27, 2021, the underwriters have exercised their over-allotment option to purchase an additional 1,328,000 Subordinate Voting Shares (the “Over-Allotment Option”), at a price of $14.00 per share.

Commensurate with the exercise of the Over-Allotment Option, an aggregate of 5,863,401 subscription receipts acquired by certain institutional shareholders in connection with the private placement (the “Specified Shareholders’ Investments”) that was completed concurrently with the IPO converted today into an aggregate of 5,863,401 Subordinate Voting Shares (the “Conversions”) and the proceeds of approximately $82,000,000.00 from the sale of such converted subscription receipts were released to the Company. The remaining 1,261,599 subscription receipts have been cancelled and the subscription proceeds in respect of such cancelled subscription receipts will be returned to the holders thereof.

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