Birch Hill and Panzer close secondary sale of Sleep Country shares
Sleep Country Canada Holdings Inc. has announced the successful closing of their secondary offering of common shares at a price of $18.50 per Share.
Birch Hill Equity Partners and Panzer Limited sold to a syndicate of underwriters co-led by TD Securities Inc. and BMO Capital Markets, on a bought deal basis, an aggregate of 10,000,000 Shares for total gross proceeds of $185 million.
Following closing of the offering, the selling shareholders, either directly or indirectly, have beneficial ownership and control over 7,104,998 Shares, representing an approximate 18.9% ownership interest in the company. Sleep Country did not receive any proceeds from the offering.