Cargojet’s C$350 Milion Bought Deal Offering


Torys LLP represented the syndicate of underwriters.

On February 1, 2021, Cargojet Inc. announced the closing of its previously announced offering of 1,642,000 common voting shares and/or variable voting shares (together with the common voting shares, the “Shares”) at a price of C$213.25 per share for aggregate gross proceeds of C$350,156,500.

The shares were offered by Scotiabank, CIBC Capital Markets, RBC Capital Markets, J.P. Morgan Securities Canada Inc., Morgan Stanley Canada Limited and BMO Capital Markets acting as co-leads and joint bookrunners, on behalf of a syndicate of underwriters. Cargojet granted to the underwriters an over-allotment option, exercisable in whole or in part, at any time until 30 days following the closing of the offering, to purchase up to an additional 246,300 shares at the offering price, on the same terms and conditions as the offering.

Cargojet is Canada’s leading provider of time sensitive premium air cargo services to all major cities across North America, providing Dedicated ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly.

The Torys team included Robbie Leibel (Picture) and Brett Saulnier (corporate/securities).

Involved fees earner: Robbie Leibel – Torys LLP; Brett Saulnier – Torys LLP;

Law Firms: Torys LLP;

Clients: BMO Capital Markets; CIBC Capital Markets; J.P. Morgan Securities Canada Inc.; Morgan Stanley Canada Limited; RBC Capital Markets; Scotiabank;

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Author: Ambrogio Visconti