NexC Partners Corp. Completes Initial Public Offering

NexC Partners Corp. (the “Company”) is pleased to announce that the Company has closed its initial public offering of 3,092,880 Class A non-voting shares (“Class A Shares”) and 357,120 Class F non-voting shares (“Class F Shares”) each at a price of $10.00 per share for aggregate gross proceeds of $34,500,000. Additionally the Company closed its concurrent private placement of 215,500 Class J non-voting shares at a price of $10.00 per share for aggregate gross proceeds of $2,155,000. Altogether the Company raised gross proceeds of $36,655,000.

The Company has granted the agents an over-allotment option exercisable for a period of 30 days from the date hereof to purchase an aggregate of up to 15% of the aggregate number of Class A Shares issued at the closing of the offering.

The Class A Shares are listed on the Toronto Stock Exchange under the symbol NXC.

The Company will be managed by Purpose Investments Inc. (“Purpose”). The Company’s investment objectives are to provide holders of shares with: (i) long-term capital appreciation through investment in a high quality portfolio of North American dividend-paying equity securities and an equity ownership in Purpose, the investment management company founded by Som Seif; and (ii) quarterly cash distributions.

The Class A Shares and Class F Shares were offered for sale by a syndicate of agents co-led by TD Securities Inc., CIBC and RBC Capital Markets and including BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Scotiabank, Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Manulife Securities Incorporated and Rothenberg Capital Management Inc.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Company’s publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

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