E Split Corp. Completes Overnight Offering
20 Dezember 2021 - 3:25PM
Middlefield Group, on behalf of E Split Corp. (TSX: ENS and
ENS.PR.A) (the “Company”), is pleased to announce the Company has
completed the overnight offering of class A and preferred shares
(the “Class A Shares” and “Preferred Shares”, respectively) for
aggregate gross proceeds of approximately $63 million. The Class A
Shares and Preferred Shares will trade on the Toronto Stock
Exchange under the existing symbols ENS (Class A Shares) and
ENS.PR.A (Preferred Shares).
The Class A Shares were offered at a price of
$15.00 per Class A Share to yield 10.4% and the Preferred Shares
were offered at a price of $10.15 per Preferred Share to yield
5.2%. The Class A Share and Preferred Share offering prices were
determined so as to be non-dilutive to the net asset value per unit
of the Company on December 10, 2021, as adjusted for dividends and
certain expenses to be accrued prior to or upon settlement of the
offering.
The Company will invest in common shares of
Enbridge Inc., a North American oil and gas pipeline, gas
processing and natural gas distribution company.
The Company’s investment objectives for the:
Class A Shares are to provide holders with: |
|
(i) |
non-cumulative
monthly cash distributions; and |
|
(ii) |
the opportunity for capital appreciation through exposure to
the portfolio |
|
|
|
Preferred Shares are to provide holders with: |
|
(i) |
fixed cumulative preferential quarterly cash distributions;
and |
|
(ii) |
return the original issue price of $10.00 to holders upon
maturity. |
Middlefield Capital Corporation provides
investment management advice to the Company.
The syndicate of agents for the offering was
co-led by CIBC Capital Markets and RBC Capital Markets, and
included Hampton Securities Limited, National Bank Financial Inc.,
Scotiabank, BMO Capital Markets, Canaccord Genuity Corp., Raymond
James Ltd., TD Securities Inc., iA Private Wealth Inc., Richardson
Wealth Limited, Manulife Securities Inc., Desjardins Securities
Inc., Middlefield Capital Corporation and Research Capital
Corporation.
For further information, please visit our
website at www.middlefield.com or contact Nancy Tham in our Sales
and Marketing Department at 1.888.890.1868.
Commissions, trailing commissions,
management fees and expenses all may be associated with mutual fund
investments. This offering was made by a prospectus supplement
dated December 14, 2021 to the Company’s short form base shelf
prospectus dated February 19, 2021, as amended on October 28, 2021
(the “Prospectus”). The Prospectus contains important detailed
information about the Class A Shares and Preferred Shares being
offered. Copies of the Prospectus may be obtained from your IIROC
registered financial advisor using the contact information for such
advisor. Investors should read the Prospectus before making an
investment decision. Mutual funds are not guaranteed, their values
change frequently, and past performance may not be repeated. Please
read the Company’s publicly filed documents which are available
at www.sedar.com.
E Split (TSX:ENS)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
E Split (TSX:ENS)
Historical Stock Chart
Von Apr 2023 bis Apr 2024