/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWS WIRE SERVICES/
MONTRÉAL, Dec. 20,
2024 /CNW/ - Groupe Dynamite Inc. ("Groupe Dynamite"
or the "Company") (TSX: GRGD) announced today that, further to
its recently completed secondary offering of 14,285,715 subordinate
voting shares at a price of $21.00
per share, the over-allotment option granted to the underwriters
was partially exercised for additional gross proceeds of
approximately $13.6 million.
Participating in the transaction are entities controlled by
Andrew Lutfy, Groupe Dynamite's
Founder, Chief Executive Officer, and Chair of the Board (the
"Selling Shareholders"). The sale of the additional subordinate
voting shares will bring the aggregate gross proceeds of the
Selling Shareholders to approximately $313.6
million.
The subordinate voting shares are listed under the symbol "GRGD"
on the Toronto Stock Exchange.
Closing is scheduled to occur on December
24, 2024, following which Groupe Dynamite will have
14,957,682 subordinate voting shares issued and outstanding, as
well as 92,615,622 multiple voting shares.
The offering was made through a syndicate of underwriters led by
Goldman Sachs Canada Inc., BMO Nesbitt Burns Inc., RBC Dominion
Securities Inc. and TD Securities Inc., as joint lead bookrunners,
and Barclays Capital Canada Inc., Desjardins Securities Inc.,
National Bank Financial Inc. and Scotia Capital Inc., as
bookrunners, and including Canaccord Genuity Corp., CIBC World
Markets Inc. and Stifel Nicolaus Canada Inc.
No securities regulatory authority has either approved or
disapproved the contents of this news release. The subordinate
voting shares have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws. Accordingly, the
subordinate voting shares may not be offered or sold within
the United States unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to exemptions from the registration
requirements of the U.S. Securities Act and applicable state
securities laws. This news release does not constitute an offer to
sell or a solicitation of an offer to buy nor shall there be any
sale of any securities of Groupe Dynamite in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Groupe Dynamite Inc.
Groupe Dynamite Inc. (TSX: GRGD) is a growth-oriented company
striving for excellence in the fashion industry. Operating retail
stores and digital experiences under two complementary and spirited
banners—GARAGE and DYNAMITE—we offer a wide range of women's
fashion apparel, catering to the needs of Generation Z and
Millennials. With leading key operating metrics and a commitment to
innovation and disciplined execution, we are proud to continue our
ambitious growth plans. Guided by our mission, "Empowering YOU to
be YOU, one outfit at a time," we are a values-led, inclusive
organization committed to inspiring confidence and self-expression.
Proudly rooted in the chic and vibrant city of Montréal, our
culture, values and distinct brands position us to shape the future
of fashion while attracting and inspiring the next generation of
leaders and creators. Our ownership-mentality and entrepreneurial
mindset is reflected in our Shared Success Program, through which
all our 6,000 employees will have ownership exposure. This
alignment of interests and values fosters collaboration, fuels
innovation, and creates meaningful long-term value for our team and
stakeholders alike.
Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of applicable securities laws, including statements
with regard to the closing of the partial exercise of the
over-allotment option. Forward-looking information involves known
and unknown risks and uncertainties, many of which are beyond
Groupe Dynamite's control, that could cause actual results to
differ materially from those that are disclosed in or implied by
such forward-looking information. These risks and uncertainties
include, but are not limited to, those described under "Risk
Factors" in Groupe Dynamite's supplemented PREP prospectus.
Forward-looking information is based on management's beliefs and
assumptions and on information currently available to management.
Although the forward-looking information contained in this news
release is based upon what management believes are reasonable
assumptions, you are cautioned against placing undue reliance on
this information since actual results may vary from the
forward-looking information. Unless otherwise noted or the context
otherwise indicates, the forward-looking information contained in
this news release is provided as of the date of this news release,
and Groupe Dynamite does not undertake to update or amend such
forward-looking information whether as a result of new information,
future events or otherwise, except as may be required by applicable
law.
SOURCE GROUPE DYNAMITE INC
