DHX Media Ltd. today announced the commencement of a marketed, underwritten public offering of 8,700,000 variable voting shares and common voting shares. The underwriters will also have a 30-day over-allotment option to purchase up to 1,305,000 additional variable voting shares and common voting shares on the same terms and conditions. The variable voting shares are listed on The NASDAQ Global Select Market ("NASDAQ") and the Toronto Stock Exchange under the symbols "DHXM" and "DHX.A," respectively, and the common voting shares are listed on the TSX under the symbol "DHX.B."
Completion of the offering is subject to market conditions and approval by NASDAQ and TSX. There can be no assurance as to whether or when the offering may be completed, or as to the actual size, price or other terms of the offering. DHX intends to use the net proceeds of the offering to repay borrowings under its term credit facility and for general corporate purposes, including potential acquisitions.
The final price per share will be determined following the conclusion of the marketing process.
Piper Jaffray & Co., Canaccord Genuity Inc. and RBC Dominion Securities Inc. will act as joint bookrunners for the proposed offering.