NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
WINNIPEG, Manitoba, March 2, 2021 /CNW/ – Pollard Banknote Limited (TSX: PBL) (“Pollard Banknote”or the “Company”), a leading lottery partner that provides instant tickets, iLottery solutions, charitable gaming products, and a complete array of offerings to the lottery and charitable gaming markets, is pleased to announce it has closed its previously announced bought deal public offering of common shares in the capital of the Company (“Common Shares”) through a syndicate of underwriters co-led by Acumen Capital Finance Partners Limited (“Acumen”) and Canaccord Genuity Corp. and including Cormark Securities Inc. (collectively, the “Underwriters”). Acumen acted as sole bookrunner on the Offering. Pollard Banknote issued 933,800 Common Shares, including 121,800 Common Shares for which the Underwriters exercised their over-allotment option in full, at a price of $36.95 per Common Share for gross proceeds to the Company of approximately $34.5 million (the “Offering”).
The Company expects to use the net proceeds from the Offering to repay indebtedness under the Company’s credit facility incurred in the recent acquisitions of Compliant Gaming LLC and Next Generation Lotteries AS.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares in the United States nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares offered under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States. Accordingly, the Common Shares offered under the Offering may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available.