Today, Spin Master Corp. entered into an underwriting agreement for its initial public offering of 12,225,000 subordinate voting shares at a price of C$18.00 per subordinate voting share for aggregate gross proceeds of C$220,050,000. Spin Master filed a supplemented post-receipt pricing prospectus dated July 22, 2015, in respect of the offering with the securities regulatory authorities in each of the provinces of Canada.
The offering is being made through a syndicate of underwriters including RBC Capital Markets and TD Securities Inc. as co-lead underwriters, and joint bookrunners CIBC World Markets Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., HSBC Securities (Canada) Inc., Barclays Capital Canada Inc., GMP Securities L.P., Cormark Securities Inc., and Dundee Securities Ltd.
Spin Master has granted to the underwriters an overallotment option, exercisable in whole or in part for a period of 30 days following the closing of the offering, to purchase up to an additional 1,833,750 subordinate voting shares at the offering Price for additional gross proceeds of C$33,007,500 if the option is exercised in full. The offering is expected to close on or about July 30, subject to customary closing conditions.
Spin Master has received conditional listing approval for the listing of its subordinate voting shares on the Toronto Stock Exchange (TSX) under the symbol TOY, subject to Spin Master fulfilling all of the listing requirements of the TSX.