| Follow us on Twitter |
Cymbria has also closed a private placement of 9,182,461 non-redeemable class J shares, at a price of $10.00 per Class J Share. The aggregate gross proceeds of the Public Offering and the Private Offering is $221,824,610. Cymbria has granted to the Agents an over-allotment option, exercisable for a period of 30 days from today, to purchase up to 1,950,000 Class A Shares (15% of the aggregate number of Class A Shares issued in connection with the Public Offering). The Class A Shares are listed for trading on the Toronto Stock Exchange under the symbol "CYB".
Cymbria's investment objective is to provide shareholders with long-term capital appreciation through an actively managed portfolio comprised primarily of global equity securities and a 22% interest in EdgePoint Wealth Management Inc., a wealth management company formed by EdgePoint, a company controlled by Tye Bousada, Patrick Farmer, Robert Krembil and Geoff MacDonald.
The syndicate of agents is co-led by BMO Capital Markets and CIBC World Markets Inc. and includes RBC Capital Markets, Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., Dundee Securities Corporation, Blackmont Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Industrial Alliance Securities Inc., Raymond James Ltd., Richardson Partners Financial Limited, Desjardins Securities Inc., GMP Securities L.P., M Partners Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.
Robert Krembil, a shareholder and director of EdgePoint, has control of 1,000,000 Class J Shares purchased through the Private Offering (all such shares are beneficially owned by The Krembil Foundation), representing approximately 10.9% of the issued and outstanding Class J Shares. These shares are held for investment purposes and may be disposed of from time to time or additional shares may be acquired. -- www.cnxmarketlink.com