Trisura announces $50 million financing deal
Trisura , a specialty insurance provider, has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the Underwriters have agreed to buy on bought deal basis 1,520,000 common shares of Trisura, at a price of $32.90 per Common Share for gross proceeds of approximately $50 million.
David Clare, the company’s CEO, said that the company is doing well, with recent profitability and growth. The funds raised from this sale will help them continue to grow and invest, especially in Canada and the US.
After this sale, the team selling the shares will have the option to buy 15% more shares at the same price for the next 30 days.
Trisura is an insurance company that works in various parts of the insurance market. It owns other smaller companies that handle its insurance activities, mainly in Canada and the US.