May 27, 2021
dentalcorp Holdings Ltd. (“dentalcorp” or the “Company”), Canada’s leading network of dental practices, announced today the closing of its initial public offering (the “Offering”) of 50,000,000 subordinate voting shares of the Company (“Subordinate Voting Shares”) at a price of $14.00 per share, for total gross proceeds of $700,000,000.00.
The Company also announced the closing of its concurrent private placement to certain institutional shareholders of an aggregate of 10,714,285 shares (the “Initial Specified Shareholders’ Investments”), as well as an aggregate of 7,125,000 subscription receipts (the “Additional Specified Shareholders’ Investments”, together with the Initial Specified Shareholders’ Investments”, the “Specified Shareholders’ Investments”), at a price of $14.00 per share or per subscription receipt, as the case may be, for gross proceeds of approximately $250,000,000.00. The subscription receipts will, upon expiry of the Over-Allotment Option (as defined below), result in such shareholders receiving such number of additional Subordinate Voting Shares as is equal to the value of the net proceeds of any unexercised portion of the Over-Allotment Option that the Company would have otherwise received if the Over-Allotment Option was exercised in full. The proceeds of the sale of any unexercised subscription receipts shall be returned to the purchasers.
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