dentalcorp Releases Q4 Preliminary Figures, Announces $100 Million Bought Deal

It was a rather eventful evening for dentalcorp (TSX: DNTL) last night, whom announced a large bought deal financing, while at the same time providing preliminary data for its fourth quarter financial results.

The financing will see the firm raise gross proceeds of $100.0 million in a bought deal financing lead by CIBC, BMO, and TD Securities at a price per share of $16.30. The financing will see a total of 6.2 million subordinate voting shares sold by the company, in addition to an over-allotment option being granted for an expansion of the financing by up to 15%.

Funds from the financing are to be used for funding further acquisitions by the company, which is “expected to remain strong in 2022.” The firm conducted a total of 62 acquisitions in 2021.

Furthermore, the firm indicated it intends to file a $1.25 billion preliminary base shelf prospectus no later than January 7, under which the financing will be qualified.

Outside of the financing, the company indicated that it expects to report fourth quarter revenues that are “approximately 20% higher than for the same period in 2020,” while adjusted EBITDA margins are expected to remain flat. Full financial results aren’t slated to be released until March, however.

dentalcorp last traded at $16.99 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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