CI Financial Corp. announces closing of secondary offering of common shares and exercise in full of over-allotment option
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, June 17, 2014 – CI Financial Corp. (“CI”) (TSX: CIX) today announced the closing of the previously announced secondary offering (the “Offering”) by The Bank of Nova Scotia (“Scotiabank”) of 72.0 million common shares of CI (the “Common Shares”) at a price of $31.60 per Common Share (the “Offering Price”) for gross proceeds received by Scotiabank of $2,275,200,000. The underwriters also exercised their over-allotment option in full, resulting in the purchase of an additional 10.8 million Common Shares at the Offering Price and increasing the gross proceeds received by Scotiabank to $2,616,480,000.
The Offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters, led by Scotia Capital Inc., RBC Capital Markets and GMP Securities L.P.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About CI Financial Corp.
CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company with $127 billion in assets as of May 31, 2014. CI offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.cifinancial.com
For further information:
William T. Holland
CI Financial Corp.