8:37 | 07.09.2016
Enerflex Ltd. Announces Closing of Bought Deal Financing Including Exercise in Full of Over-Allotment Option
CALGARY, ALBERTA–(Marketwired – Sept. 7, 2016) –
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Enerflex Ltd. (TSX:EFX) (“Enerflex” or “the Company”), a leading supplier of products and services to the global energy industry, today announced that it has closed its public offering of 8,952,750 common shares at a price of $12.85 per share, which includes 1,167,750 common shares issued pursuant to the exercise in full of the over-allotment option, for gross proceeds of approximately $115.0 million.
The public offering was underwritten by a syndicate of underwriters led by Scotiabank and TD Securities.
The net proceeds of the offering will be used by the Company to fund the balance of its 2016 and 2017 capital expenditure program, potential acquisitions that may be identified from time to time and for general working capital and corporate purposes.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This document shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Enerflex Ltd. is a single source supplier of natural gas compression, oil and gas processing, refrigeration systems and electric power equipment – plus in-house engineering and mechanical service expertise. The Company’s broad in-house resources provide the capability to engineer, design, manufacture, construct, commission and service hydrocarbon handling systems. Enerflex’s expertise encompasses field production facilities, compression and natural gas processing plants, refrigeration systems and electric power equipment servicing the natural gas production industry.
Headquartered in Calgary, Canada, Enerflex has approximately 1,900 employees worldwide. Enerflex, its subsidiaries, interests in associates and joint-ventures operate in Canada, the United States, Argentina, Bolivia, Brazil, Colombia, Mexico, Peru, Australia, the United Kingdom, Russia, the United Arab Emirates, Oman, Bahrain, Indonesia, Malaysia, Singapore and Thailand. Enerflex’s shares trade on the Toronto Stock Exchange under the symbol “EFX”. For more information about Enerflex, go to www.enerflex.com.
Advisory Regarding Forward-Looking Statements
Forward-looking information in this press release includes the anticipated use of the net proceeds of the offering. Although Enerflex believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Enerflex can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including the risk that the intended use of the net proceeds of the offering may change if the board of directors of the Company determines that it would be in the best interests of Enerflex to deploy the proceeds for some other purposes.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information. Accordingly, undue reliance should not be placed on this forward-looking information. The forward-looking statements in this news release are made as of the date of this release and, other than as required by applicable securities laws, Enerflex does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking information contained in this release is expressly qualified by this cautionary statement.
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