Hammond Power Solutions Closes $65.5 Million Bought Deal Secondary Offering [Financial Post (Toronto, Ontario, Canada)]
Adeia Inc. (ADEA)
Company Research
Source: Financial Post
Chair of Board Sells Shares for Diversification, Estate Planning and Charitable Giving Purposes GUELPH, Ontario, Sept. 27, 2024 (GLOBE NEWSWIRE) — Hammond Power Solutions Inc. (“HPS” or the “Company”) (TSX: HPS.A) announced today that Chair of Board, Mr. William G. Hammond, through a company he controls, closed the sale of 500,000 Class A Subordinate Voting Shares at a price of $131.00 (the “Offering”) for gross proceeds of approximately $65.5 million. Mr. Hammond intends to use the proceeds for diversification, estate planning and charitable giving purposes. The shares were sold pursuant to a bought deal with co-lead underwriters Acumen Capital Finance Partners Limited and Canaccord Genuity Corp. (together, the “Underwriters”), under which the Underwriters exercised their over-allotment option in full. The Company did not offer any Class A Subordinate Voting Shares in the Offering and did not receive any proceeds from the Offering. Prior to the closing of the Offering, Mr. Ham
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