Farris lawyers recently represented Diversified Royalty Corp. (“DIV”) in connection with its bought deal public offering of 12,339,500 common shares, including the full exercise of the over-allotment option, for aggregate gross proceeds of approximately $57.5 million (the “Offering”). The Offering was conducted by a syndicate of underwriters led by CIBC Capital Markets and ATB Cormark Capital Markets, as joint bookrunners (the “Joint Book Runners”), along with Raymond James and Scotiabank as co-lead underwriters with the Joint Bookrunners and also included Canaccord Genuity Corp., Desjardins Capital Markets, BMO Capital Markets, National Bank of Canada Capital Markets, RBC Capital Markets, and iA Private Wealth.

DIV intends to use the net proceeds from the Offering to fully repay amounts drawn under DIV’s acquisition facility in connection with its recent acquisition of the Mr. Lube + Tires franchisor business, with the remaining proceeds to be used for working capital and general corporate purposes.

The Farris team was led by Partner Robert Veitch (securities and corporate) and included Partners Dan Everall (securities), David Selley (corporate), Counsel Kirsten Kjellander (tax), Associates Ben Kaardal (securities) and Ian Meikle (securities), and Articling Student Anika Ihara.

For a copy of the full press release, click here.