On March 30, 2022, Diversified Royalty Corp. (“DIV”) closed its previously announced bought deal public offering of $52,500,000 aggregate principal amount of 6.00% convertible unsecured subordinated debentures (the “Debentures”) at a price of $1,000 per Debenture (the “Offering”).
The Offering was conducted by a syndicate of underwriters led by CIBC Capital Markets, National Bank Financial Inc. and Scotiabank that included, BMO Capital Markets, Cormark Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc. and PI Financial Corp.
DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.
DIV was represented by a Farris transaction team including Robert Veitch, Mike Rawluk, David Selley, Mark Chu, Trevor Shum and Jeff Scheffel.