- Trisura Group has announced a bought-deal public offering of common shares for gross proceeds of approximately $135 million
- A syndicate of underwriters have agreed to buy 4,070,000 common shares at a price of $33.25 per share
- Net proceeds will be used to support growth of the platform in both Canada and the U.S.
- The offering is expected to close on or about July 14, 2022
- Trisura Group is a specialty insurance provider
- Trisura Group Ltd. (TSU) ended the day up 2.27 per cent, trading at C$34.66 per share
Trisura Group (TSU) has announced a bought-deal public offering of common shares for gross proceeds of approximately $135 million.
The company has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Cormark Securities Inc. The underwriters have agreed to buy 4,070,000 common shares at a price of $33.25 per share.
“Our business continues to perform well and Q2 results exhibit particularly strong growth,” said David Clare, President and CEO.
“The significant and consistent growth is expected to support profitability over the long term, particularly in our U.S. fee-based business. Additional capital will position Trisura to support the premium base that has already been generated, and to pursue new avenues of growth.”
Net proceeds will be used to support growth of the platform in both Canada and the U.S.
The underwriters have been granted an option to purchase up to an additional 15 per cent of the common shares.
The offering is expected to close on or about July 14, 2022, subject to the receipt of all necessary regulatory approvals.
Trisura Group is a specialty insurance provider operating in the surety, risk solutions, corporate insurance, fronting and reinsurance segments of the market.
Trisura Group Ltd. (TSU) ended the day up 2.27 per cent, trading at C$34.66 per share.
