Mattr Corp. Announces Closing of Debt Subscription Receipt Offering
Mattr Corp. (TSX: MATR) has successfully closed its private offering of debt subscription receipts, raising gross proceeds of approximately $129.3 million. The proceeds will partially fund the acquisition of AmerCable Incorporated, expected to close in Q1 2025. The offering consists of 125,000,000 subscription receipts, which will convert into 7.25% senior unsecured notes due April 2, 2031. Upon conversion, the total outstanding notes will amount to $300 million. The offering was conducted through TD Securities and National Bank Financial Markets, targeting accredited investors in Canada and qualified institutional buyers in the US under Rule 144A.
Mattr Corp. (TSX: MATR) ha completato con successo la sua offerta privata di ricevute di sottoscrizione di debito, raccogliendo proventi lordi di circa $129,3 milioni. I proventi finanzieranno in parte l'acquisizione di AmerCable Incorporated, che si prevede si concluderà nel primo trimestre del 2025. L'offerta consiste in 125.000.000 ricevute di sottoscrizione, che si convertiranno in note senior non garantite al 7,25% con scadenza il 2 aprile 2031. Dopo la conversione, il totale delle note in circolazione ammonta a $300 milioni. L'offerta è stata condotta tramite TD Securities e National Bank Financial Markets, rivolta a investitori accreditati in Canada e acquirenti istituzionali qualificati negli Stati Uniti ai sensi della Regola 144A.
Mattr Corp. (TSX: MATR) ha cerrado con éxito su oferta privada de recibos de suscripción de deuda, recaudando ingresos brutos de aproximadamente $129,3 millones. Los fondos se utilizarán en parte para financiar la adquisición de AmerCable Incorporated, que se espera se cierre en el primer trimestre de 2025. La oferta consiste en 125.000.000 recibos de suscripción, que se convertirán en notas senior no garantizadas al 7,25% con vencimiento el 2 de abril de 2031. Tras la conversión, el total de notas en circulación ascenderá a $300 millones. La oferta fue realizada a través de TD Securities y National Bank Financial Markets, dirigida a inversores acreditados en Canadá y compradores institucionales calificados en EE. UU. bajo la Regla 144A.
Mattr Corp. (TSX: MATR)는 채무 구독 영수증의 사모 공모를 성공적으로 마감하여 약 $129.3백만의 총 수익을 올렸습니다. 수익금은 2025년 1분기에 완료될 것으로 예상되는 AmerCable Incorporated의 인수 자금을 일부 지원합니다. 이번 공모는 125,000,000개의 구독 영수증으로 구성되며, 이는 2031년 4월 2일 만기가 도래하는 7.25%의 선순위 무담보 채권으로 전환됩니다. 전환 후 총 발행 채권은 $300백만에 이를 것입니다. 이번 공모는 TD Securities와 National Bank Financial Markets를 통해 진행되었으며, 캐나다의 인증된 투자자와 미국의 자격을 갖춘 기관 구매자를 대상으로 하였습니다.
Mattr Corp. (TSX: MATR) a réussi à clôturer son offre privée de reçus de souscription de dettes, levant des produits bruts d'environ 129,3 millions de dollars. Les produits seront en partie utilisés pour financer l'acquisition d'AmerCable Incorporated, qui devrait se conclure au premier trimestre de 2025. L'offre consiste en 125.000.000 reçus de souscription, qui seront convertis en obligations senior non garanties de 7,25 % arrivant à échéance le 2 avril 2031. À l'issue de la conversion, le montant total des obligations en circulation s'élèvera à 300 millions de dollars. L'offre a été réalisée par l'intermédiaire de TD Securities et National Bank Financial Markets, ciblant des investisseurs qualifiés au Canada et des acheteurs institutionnels qualifiés aux États-Unis en vertu de la règle 144A.
Mattr Corp. (TSX: MATR) hat erfolgreich seine private Platzierung von Schuldenbezugsrechten abgeschlossen und dabei brutto Erlöse von etwa 129,3 Millionen US-Dollar erzielt. Die Erlöse werden teilweise zur Finanzierung der Übernahme von AmerCable Incorporated verwendet, die voraussichtlich im ersten Quartal 2025 abgeschlossen werden soll. Das Angebot besteht aus 125.000.000 Bezugsrechten, die in 7,25% senior unbesicherte Anleihen mit Fälligkeit am 2. April 2031 umgewandelt werden. Nach der Umwandlung wird der Gesamtbetrag der ausstehenden Anleihen 300 Millionen US-Dollar betragen. Das Angebot wurde über TD Securities und National Bank Financial Markets durchgeführt und richtete sich an akkreditierte Investoren in Kanada sowie an qualifizierte institutionelle Käufer in den USA gemäß Regel 144A.
- Successful raising of $129.3 million through debt subscription receipts
- Strategic acquisition of AmerCable Incorporated advancing company's growth
- Total notes outstanding will increase to $300 million, strengthening capital structure
- Increased debt burden with 7.25% interest rate through 2031
- Additional leverage taken on for acquisition may impact financial flexibility
TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) confirmed today that it has successfully closed its previously announced private offering (the “Offering”) of debt subscription receipts (the “Subscription Receipts”) for aggregate gross proceeds of approximately
Mattr intends to use the net proceeds of the Offering to pay a portion of the purchase price for the Company’s previously announced indirect acquisition (the “Acquisition”) of all of the issued and outstanding shares of AmerCable Incorporated. Subject to the satisfaction of certain closing conditions, Mattr expects the closing of the Acquisition to occur during the first quarter of 2025.
In order to facilitate an orderly settlement of the Offering, the number of Subscription Receipts issued pursuant to the Offering has been modified to 125,000,000 (from the previously announced 125,000). Holders of the Subscription Receipts will be entitled to receive, upon the satisfaction of certain conditions and without payment of additional consideration or further action, a newly authenticated
The Notes issued upon the conversion of the Subscription Receipts shall be issued as “Additional Notes” pursuant to the trust indenture dated April 2, 2024, between TSX Trust Company and the Company, as supplemented by a supplemental indenture, such that, following the issuance thereof,
The Subscription Receipts were offered through TD Securities and National Bank Financial Markets.
The Subscription Receipts were offered for sale in Canada to accredited investors on a private placement basis, in accordance with Canadian securities laws. The Subscription Receipts were not registered under the U.S. Securities Act, or any state securities laws, and were offered and sold in the United States to qualified institutional buyers only, pursuant to Rule 144A of the U.S. Securities Act, and outside of the United States in accordance with Rule 903 of Regulation S under the U.S. Securities Act.
About Mattr
Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments: Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure while lowering risk.
For further information, please contact:
Meghan MacEachern
VP, External Communications & ESG
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.
Source: Mattr Corp.
FAQ
What is the value and purpose of Mattr's (MATR) December 2024 debt offering?
What are the terms of Mattr's (MATR) 2024 subscription receipts conversion?
When is Mattr (MATR) expected to close the AmerCable acquisition?
How much will Mattr's (MATR) total outstanding notes be after the conversion?
