On June 1, 2023, NFI Group Inc. announced a CAD 108,347,250 public offering of 13,133,000 subscription receipts at CAD 8.25 each, which closed on June 6, 2023. The offering was underwritten by BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., ATB Capital Markets Inc., and Merrill Lynch Canada Inc., with Torys LLP and McCarthy Tétrault LLP acting as legal advisors for NFI and the underwriters, respectively.

Net proceeds, expected to be CAD 104,013,360, will be held in escrow and released upon meeting conditions, including credit facility amendments and additional financing. Funds will primarily repay debt and support general corporate needs, enhancing NFI’s financial flexibility.