The Underwriters in Dye & Durham’s $500 million offering

On February 23, 2021, Dye & Durham closed its $500 million bought deal with a syndicate of underwriters led by Canaccord Genuity Corp., BMO Capital Markets and Scotia Capital Inc., to complete on a bought deal basis, an aggregate of 3,960,400 common shares at a purchase price of $50.50 per common share for aggregate gross proceeds of approximately $200 million and $300 million aggregate principal amount of convertible unsecured subordinated debentures due March 1, 2026 at a price of $1,000 per debenture. Concurrently with the Offerings, certain shareholders of the Company sold an aggregate of 1,980,200 common shares at a purchase price of $50.50 under a block trade agreement with the lead underwriters.

The underwriters have an over-allotment option exercisable for 30 days following the date of this to purchase up to an additional 540,060 common shares at a price of $50.50 per common share and $45 million principal amount of debentures.

Dye & Durham provides cloud-based software and technology solutions to increase productivity for legal and business professionals. The company operates in Canada and the United Kingdom and its customers include law firms, financial service institutions and government organizations.

Osler, Hoskin & Harcourt LLP advised The Underwriters with a team consisting of Andrea Whyte, Rob Lando, Kelsey Armstrong, Lindsay Hofer, Meg Hiles (Corporate), David Davachi, Kevin Colan (Tax) and Ryan Hayes (Banking and Financial Services).