The offering was underwritten by a syndicate of underwriters led by BMO Capital Markets and Scotia Capital Inc.
Keystone used a portion of the proceeds today to complete two previously announced transactions:
(i) the acquisition three funeral homes in Michigan by acquiring 100% of the shares of Fred H. Kaul Funeral Homes, Inc. and
(ii) the redemption of approximately 526,400 Class B Common Shares of Keystone Group Holdings, Inc. Management expects the remainder of the proceeds to be used for general corporate purposes and, subject to the approval of the U.S. Federal Trade Commission, to finance the acquisition of 11 funeral homes and four cemeteries from Service Corporation International. -- www.cnxmarketlink.com