Stantec Inc. raised CAD 250M through the issuance of 2,703,000 common shares at $92.50 each. Net proceeds of CAD 240M, after underwriting fees, will be used to repay debt, fund acquisitions, and support growth initiatives. The offering included an over-allotment option for an additional 405,450 shares.

The underwriting syndicate comprised National Bank Financial Inc., CIBC World Markets Inc., RBC Capital Markets Inc., Desjardins Securities Inc., Scotia Capital Inc., TD Securities Inc., ATB Capital Markets Inc., Merrill Lynch Canada Inc., BMO Nesbitt Burns Inc., Raymond James Ltd., Stifel Nicolaus Canada Inc., Canaccord Genuity Corp., HSBC Securities (Canada) Inc., and Wells Fargo Securities Canada, Ltd. Legal advisors were Norton Rose Fulbright Canada LLP for Stantec and Stikeman Elliott LLP for the underwriters. Completion is expected on November 29, 2023.