Fiera Capital announces closing of C$105 million private placements of
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
MONTREAL, Sept. 18, 2013 /CNW Telbec/ - Fiera Capital Corporation ("Fiera" or
the "Firm") (TSX: FSZ) is pleased to announce that it has completed today its
previously announced private placements of subscription receipts for aggregate
gross proceeds to the Firm of approximately C$105 million, which included
approximately C$5 million as a result of the exercise in full by the
underwriters and National Bank of Canada of their respective options to
purchase additional subscription receipts.
Fiera issued a total of 9,781,000 subscription receipts (the "Subscription
Receipts") from treasury at a price of C$10.75 per Subscription Receipt (the
"Private Placements"). Of that total number of Subscription Receipts, Fiera
issued 6,696,000 Subscription Receipts, on a private placement bought deal
basis, through a syndicate of underwriters co-led by National Bank Financial
Inc. and GMP Securities L.P. and which also included Desjardins Securities
Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Inc. and Scotia Capital Inc.
(the "Underwritten Private Placement"). In addition, Fiera issued 3,085,000
Subscription Receipts, on a private placement basis, to Natcan Investment
Management Inc. ("Natcan"), a wholly-owned subsidiary of National Bank of
Canada. National Bank of Canada therefore maintains its 35% ownership in Fiera
following closing of the Private Placements, assuming the exchange of all
Subscription Receipts for Class A subordinate voting shares and payment by
Fiera to Natcan of its first annual payment on account of the balance of the
purchase price of the business assets of Natcan in Class A subordinate voting
shares on or about September 30, 2013.
The proceeds of the Private Placements will be used to fund a portion of the
purchase price for the previously announced acquisition of Bel Air Investment
Advisors LLC and its affiliate Bel Air Securities LLC (collectively, "Bel
Air"). The acquisition of Bel Air is expected to close on or about October 31,
Fiera also expects to close the previously announced acquisition of New
York-based investment manager Wilkinson O'Grady & Co., Inc. on or about
October 31, 2013.
The Subscription Receipts, together with any underlying Class A subordinate
voting shares issued pursuant to the terms thereof, are subject to a
four-month plus one day statutory resale restriction ending on January 19,
The Subscription Receipts have been offered to non-US persons outside of the
United States. Such Subscription Receipts have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state securities laws.
This news release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the Subscription Receipts in
the United States or any jurisdiction in which such offer, solicitation or
sale would be unlawful.
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly traded, independent investment
firm. The Firm is one of only a handful of full service, multi-product
investment firms in Canada, offering clients a proven top tier track record in
Canadian and foreign equity and fixed income management as well as depth and
expertise in asset allocation and non-traditional investments.
Additional information relating to the Firm, including the Firm's annual
information form, is on SEDAR at www.sedar.com.
About Bel Air Investment Advisors
Established in 1997, Bel Air Investment Advisors LLC is a prominent
independent wealth management advisory firm, providing financial advisory, and
asset and investment management services to exclusively high net worth
individuals, families, trusts and foundations with US$20 million or more in
investable assets. Headquartered in Los Angeles, California, Bel Air services
over 275 families across the United States and oversees approximately C$7.7
billion in assets, including private foundation relationships. For more
information, visit www.belair-llc.com.
About Wilkinson O'Grady & Co., Inc.
Founded in 1972, Wilkinson O'Grady & Co., Inc. actively manages separate
global, domestic and international portfolios for wealthy
individuals, families, trusts, endowments, foundations, corporations
and other clients. Wilkinson O'Grady & Co. is a global investor that builds
client portfolios around enduring investment themes — the economic and
social forces that drive long-term change. Wilkinson O'Grady & Co.
endeavors to grow client capital by investing in the
marketable securities of businesses it believes have attractive financial
characteristics, strong management teams and significant market opportunities.
This document may contain certain forward-looking statements. These statements
relate to future events or future performance, and reflect management's
expectations or beliefs regarding future events, including business and
economic conditions and Fiera's growth, results of operations, performance and
business prospects and opportunities. Such forward-looking statements reflect
management's current beliefs and are based on information currently available
to management. In some cases, forward-looking statements can be identified by
terminology such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "estimate", "predict", "potential", "continue", "target", "intend"
or the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and a number of factors could cause
actual events or results to differ materially from the results discussed in
the forward-looking statements. In evaluating these statements, readers should
specifically consider various factors that may cause actual results to differ
materially from any forward-looking statement.
These factors include, but are not limited to, market and general economic
conditions, the nature of the financial services industry, and the risks and
uncertainties detailed from time to time in Fiera 's interim and annual
consolidated financial statements, and its Annual Report and Annual
Information Form filed on www.sedar.com.
These forward-looking statements are made as of the date of this document, and
Fiera assumes no obligation to update or revise them to reflect new events or
SOURCE Fiera Capital Corporation
Mélanie Tardif, CPA, CMA Director, Corporate Communications and Investor
Relations Fiera Capital Corporation 514-954-6456 email@example.com
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CO: Fiera Capital Corporation
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-0- Sep/18/2013 12:42 GMT
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