Superior Plus Announces Closing of $288 Million Bought Deal Equity Offering

TORONTO — Superior Plus Corp. announced the successful closing of its previously announced bought deal equity offering of 25,670,300 common shares at a price of $11.20 per share, for aggregate gross proceeds of approximately $288 million. The offering included 3,348,300 shares issued pursuant to the exercise in full by the underwriters of their over-allotment option.

The offering was sold on a bought deal basis to a syndicate of underwriters bookrun by CIBC Capital Markets, and including National Bank Financial Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., ATB Capital Markets Inc., Cormark Securities Inc. and iA Private Wealth Inc.

Brookfield, one of Superior’s largest investors, participated as an anchor investor in the offering and purchased approximately $75 million in shares at the offering price through its Special Investments program.

The offering was made under Superior’s short form base shelf prospectus dated May 25, 2021. The terms of the offering are described in a prospectus supplement dated March 30, 2022, which was filed with securities regulators in each of the provinces and territories of Canada.

Superior intends to use the net proceeds of the offering to reduce existing indebtedness and for general corporate purposes, including to fund future acquisitions.