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Transactions in 2015

  

December 22, 2016 - Calfrac Well Services Ltd. Announces Closing of Bought Deal Private Placement

Calfrac announced the closing of its bought deal financing. CFW entered into a $27.5 mm bought deal financing with a syndicate of underwriters for the sale of 20,370,370 common shares at a price of $1.35/sh. AltaCorp Capital was in the syndicate of underwriters and has thus been Research-restricted.
 

 

 

  

December 14, 2015 - AutoCanada Inc. Closes Equity Offering

AutoCanada announced that the company has closed the previously announced (November 24, 2015) public offering to sell 2,950,000 common shares on a bought deal basis at an offering price of $25.50 per share for total gross proceeds of $75,225,000. As AltaCorp Capital was part of the syndicate for the company’s bought deal offering, we were restricted on the stock.
 

 

  

December 1, 2015 - ORLEN Upstream Canada Ltd. Acquires Kicking Horse Energy Inc.

ORLEN Upstream Canada Ltd. (wholly owned subsidiary of PKN ORLEN S.A.) announced the completion of the acquisition of all oustanding common shares of Kicking Horse Energy Inc. AltaCorp participated as Advisor to Kicking Horse Energy. 

 

  

November 30, 2015 - Gear Energy Ltd. Closes $25.8 Million Financing 

GXE entered into a financing for total proceeds of $25.8 mm composed of 12.0 mm shares ($0.75/sh) on a bought deal basis, 2.7 mm shares ($0.75/sh) on a private placement basis, and $14.8 mm of 4.0% convertible unsecured subordinated debentures. AltaCorp participated as a member of the syndicate.
 

 

  

November 27, 2015 - Pine Cliff Energy Ltd. Announces Completion of Equity Financing

Pine Cliff announced the closing of its recent equity financing. The Company is issuing 63.9mm (includes over-allotment option for 8.3mm units) shares at a price of $1.08/sh for gross proceeds of $69mm. In addition, the Company is also doing a small non-brokered private placement of worth $3mm (also at $1.08/sh) for company management. The financing is being done in relation to its recently announced assets acquisition which is currently being processed and is expected to close by December 11, 2015. AltaCorp Capital was a member of the underwriting syndicate.
 

 

  

November 24, 2015 - The Scoular Company Acquires Legumex Walker Inc. Special Crops Division

The Scoular Company announced the completion of its acquisition of all assets of Legumex Walker Inc.'s Special Crops Division for $94 Million plus the amount of net working capital at closing. AltaCorp Capital participated as an advisor to Legumex Walker.
 

 

  

November 19, 2015 - Pembina Pipeline Corporation Completes Bought Deal Financing

Pembina announced the closing of a previously-announced bought deal financing for 13.3 million common shares at a price of $30.00/share for gross proceeds of approximately $400 million. There is an over-allotment option to purchase, within 30 days after closing of the offering, up to an additional 2.0 million common shares for additional gross proceeds of $60 million. AltaCorp Capital participated as a member of the syndicate.
 

 

 

  

November 6, 2015 - Enbridge Income Fund Holdings Inc. Closes Common Share Offering

On October 13th, 2015, Enbridge Income Fund Holdings Inc. (“EIF”) announced that it entered into a bought deal financing for approximately 21.5 million common shares issued to the public at a price of $32.60 /share for gross proceeds of $700 million. Concurrently, Enbridge Inc. (“ENB”) agreed to subscribe for 5.3 million common shares also at a price of $32.60 /share for gross proceeds of approximately $175 million. AltaCorp Capital was a member of the underwriting syndicate.
 

 

  

October 28, 2015 - Superior Plus Corporation Closes Offering of 13.9 Million Common Shares

Superior Plus announced the closing of the issue and sale of 13,888,895 common shares at a price of $10.35 per share for net proceeds of $138 Million. AltaCorp Capital was a member of the syndicate.
 

 

 

October 1, 2015 - TriWest Capital Partners and Strike Group Inc. Announce Partnership

TriWest Capital Partners and Strike Group Inc. announced a partnership effective as of September 30th, 2015. The partnership will continue to operate under Strike Group Limited Partnership. AltaCorp Capital participated as an Advisor to Strike Group Limited Partnership.
 

  

 

September 30, 2015 - AltaGas Ltd. Closes $300 Million Common Share Offering

AltaGas announced on September 21st, 2015 that it entered into an agreement with Highstar Capital IV, L.P., to purchase three natural gas-fired electrical generation facilities in Northern California for US$642 million. 
To partially fund the acquisition, AltaGas entered in to a bought deal financing for 8.76 million common shares at $34.25/share for gross proceeds of $300 million. AltaCorp was a member of the offering syndicate and we thus refrained from commenting on the deal.

  

 

September 29, 2015 - Ag Growth International Inc. Closes Public Offering of Comvertible Debentures

Ag Growth International announced the closing of a $75 Million Public Offering of Convertible Debentures ta the price of $1,000 per Debenture. AltaCorp was included in the syndicate.
 

  

 

September 17, 2015 - Exchange Income Corporation Closes Bought Deal Financing

Exchange Income Corporation announced that the company has closed the previously announced public offering (August 27) to sell 3,019,000 common shares on a bought deal basis at an offering price of $24.85 per share for total gross proceeds of $75,022,150. AltaCorp Capital was part of the syndicate for the company's bought deal offering.
 

  

 

July 8, 2015 - Horizon North Logistics Inc. Announces Closing of Bought Deal Financing

HNL has closed its bought deal financing (announced June 17th, 2015). AltaCorp was an underwriter in the transaction, which warranted a Research Restriction. Pursuant to the financing, underwriters purchased 21.5 mm HNL common shares (including over-allotment), on a bought deal basis, at a price of $3.75 per common share for gross proceeds of $80.6 mm.
 

  

 

July 7, 2015 - Kelt Exploration Ltd. Closes Equity Financing

Kelt Exploration announced the closing of an equity financing consisting of a $86.5 mm bought deal and concurrent $3.5 mm private placement to company insiders, composed of ~9.8 mm and 0.4 mm common shares, respectively. The shares were priced at $8.85/sh with proceeds to be directed towards the capex increase and paying down corporate indebtedness. AltaCorp was a member of the bought deal syndicate.
 

  

  

July 7, 2015 - PrairieSky Royalty Ltd. Closes Equity Financing

PrairieSky issued ~6.3 mm common shares on a bought deal basis (including the over-allotment), with the shares priced at $31.25/share - a 2.3% discount to the pre-announcement close, for total proceeds at $198.0 mm. Net proceeds are to be used to fund future acquisitions, and for general corporate purposes. Recall that PrairieSky indicated it has completed ~$40 mm in acquisitions to date this quarter. AltaCorp participated as a member of the bought deal syndicate.
 

 

 

June 30, 2015 - PHX Energy Services Corp. Announces Closing of Bought Deal Financing

PHX has closed its bought deal financing (announced June 9th, 2015). AltaCorp was an underwriter in the transaction.  Pursuant to the financing, underwriters purchased 6.1 mm PHX common shares (including over-allotment), on a bought deal basis, at a price of $5.75 per common share for gross proceeds of $35.0 mm.
 

  

  

June 10, 2015 - Tamarack Valley Energy Ltd. Announces Underwriters Exercise Over-Allotment Option

Tamarack announced that its bought deal underwriting syndicate exercised the full over-allotment option. An additional 1,984,200 subscription receipts were purchased at $3.78 each for gross proceeds of $9.75mm. Overall, the company raised aggregate gross proceeds of $83.8mm that will be used to finance the company's recent Wilson Creek assets acquisition and towards capital expenditures.
 

 

 

  

May 21, 2015 - Yangarra Resources Ltd. Closes Bought Deal Financing

Yangarra issued an aggregate of 9.9 common shares, composed of 5.6 mm CEE flow-through shares at $2.15/share, 1.0 mm CDE flow-through shares at $1.98/sh, and 3.3 mm common shares at $1.80/share. AltaCorp participated as the Sole Bookrunner.
 

 

  

May 6, 2015 - Freehold Royalties Ltd. Closes $321 Million Acqusition and Public Offering

The $357 mm equity financing (plus fully-exercised overallotment) consisted of a $324 mm bought deal (upsized from $297 mm) and concurrent $33 mm private placement to CN Pension Trust Funds, composed of 16.5 mm and 1.8 mm common shares, respectively. With the full exercise of the overallotment option at 2.7 mm common shares, total gross proceeds came to $406 mm. 
Freehold entered into an agreement to purchase two royalty packages from Penn West Petroleum Ltd. Freehold paid Penn West $321 mm, prior to closing adjustments, funded by the equity offering

 

  

April 14, 2015 - AltaGas Ltd. Closes US$125 Million Medium-Term Note Offering

AltaGas has announced the closing of a US$125 Million issue of senior unsecured medium-term notes. AltaCorp participated as a member of the syndicate.
 

 

  

April 2, 2015 - Baytex Energy Corp. Closes $632.5 Million Bought Deal

BTE initially announced a $500 mm bought deal and subsequently increased the offering to $550 mm. The transaction included 31.7 mm shares at $17.35/share and included an over-allotment option of ~4.8 mm shares which was exercised, for total gross proceeds of $632.5 mm (net proceeds of $606.1 mm). Funds raised are to go towards reducing bank indebtedness, increase working capital and fund its 2015 capital program. AltaCorp Capital participated as a member of the of the bought deal syndicate.

 

 

 

March 24, 2015 - Secure Energy Services Inc. Closes Bought Deal Financing

Secure Energy Services closed a $198.0 mm bought deal financing initially announced on March 4th, 2015, with a syndicate of underwriters for the sale of 13.5 mm SES common shares at a price of $14.65/share (including the over-allotment option). Proceeds from the financing will be used to fund capex, acquisitions and for general working capital and corporate purposes. In the interim, the proceeds will be used to reduce the outstanding debt under the company’s credit facility. AltaCorp was an underwriter in the transaction and was research-restricted.
 

  

 

March 16, 2015 - Encana Corporation Closes C$1.25 Billion Bought Deal

Encana announced the closing of its 85.6 mm common share bought deal on March 16th at a price of C$14.60/sh for gross proceeds of C$1.25 bln ($1.21 bln net). Moreover, the underwriters have been granted the option to purchase up to an additional 12.842 mm common shares at the same price, exercisable following the closing date up to 30-days thereafter. At this time, the over-allotment option has not been exercised. AltaCorp Capital participated as a member of the bought deal syndicate.
 

  

  

March 4, 2015 - Rock Energy Inc. Announces Closing of $13.2 Million Bought Deal Financing

The transaction included ~5.6 mm common shares at $2.35/share for total proceeds of $13.2 mm. Additionally, the underwriters have the option to purchase up to an additional 15% of the shares issued to cover over-allotments, for maximum gross proceeds of ~$15.1 mm, up until March 27, 2015. It should be noted that management and the Board of Directors participated in ~10% of the offering. AltaCorp Capital participated as a member of the bought deal syndicate.
 

 

 

March 3, 2015 - Crew Energy Inc. Closes Bought Deal Financing

Crew Energy has closed a bought deal financing of 16,667,000 common shares at a price of $6.00 per share for gross proceeds of ~$100 Million. AltaCorp Capital was part of the underwriting syndicate.

  

  

March 3, 2015 - Cenovus Energy Inc. Closes $1.5 Billion Bought Deal 

Cenovus announced the closing of its 67.5 mm common share bought deal on March 3rd at a price of $22.25/sh for gross proceeds of $1.50 bln ($1.45 mm net). Moreover, the underwriters have been granted the option to purchase up to an additional 10.125 mm common shares at the same price, exercisable following the closing date up to 30-days thereafter. AltaCorp participated as a member of the bought deal syndicate.
 

 

 

January 26, 2015 - ARC Resources Ltd. Closes $350 Million Financing

RC closed on the base $350 million bought deal (excluding the overallotment of $52.7 million), consisting of 15.5 mm common shares at $22.55/share. The company indicated proceeds are to be directed towards reducing bank indebtedness and maintaining a relatively strong capex program. AltaCorp Capital participated as a member of the underwriting syndicate.