TDb Split Corp. launches $75 million at-the-market offering with National Bank Financial as agent

Company

TDb Split Corp.

Law Firm / Organization
Blake, Cassels & Graydon LLP

Bank

National Bank Financial Inc.

Law Firm / Organization
Osler, Hoskin & Harcourt LLP

On December 19, 2023, TDb Split Corp. announced the launch of an at-the-market offering of Priority Equity Shares and Class A Shares, each with an aggregate value of up to $37.5 million, totaling $75 million. The offering closed on December 19, 2023. Qualified under a prospectus supplement to the December 19, 2023, base shelf prospectus, this structure allowed TDb Split Corp. to issue shares at market rates. National Bank Financial Inc. served as the agent, facilitating sales on the Toronto Stock Exchange (TSX). The Priority Equity Shares and Class A Shares are listed under “XTD.PR.A” and “XTD” respectively, with agent compensation set at up to 2.5% of the gross sales price per share. Blake, Cassels & Graydon LLP advised TDb Split Corp., and Osler, Hoskin & Harcourt LLP represented the agent. Proceeds will support the company's investment objectives, focusing on dividend-yielding shares of The Toronto-Dominion Bank. The TSX conditionally approved the additional listings, pending full compliance with listing requirements.

Public/Private Offering
Banking/Finance
$ 75,000,000
Closed
19 December 2023