Fiera Capital announces closing of C$105 million private placements of subscription receipts /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ 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, 2013. 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, 2014. 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. www.fieracapital.com 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. Forward-Looking Statements 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 circumstances. SOURCE Fiera Capital Corporation Mélanie Tardif, CPA, CMA Director, Corporate Communications and Investor Relations Fiera Capital Corporation 514-954-6456 email@example.com To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2013/18/c8193.html CO: Fiera Capital Corporation ST: Quebec NI: FIN PVT -0- Sep/18/2013 12:42 GMT
Fiera Capital announces closing of C$105 million private placements of subscription receipts
Press spacebar to pause and continue. Press esc to stop.