Colliers International (CIGI) Completes $300M Bought Deal Equity Offering

February 28, 2024 8:21 AM EST

Colliers International Group Inc. (NASDAQ: CIGI) is pleased to report that it has closed its previously announced bought deal public offering of 2,479,500 subordinate voting shares, at a price of US$121.00 per Subordinate Voting Share for gross proceeds of US$300.0 million with a syndicate of underwriters led by BMO Capital Markets and J.P. Morgan as joint bookrunners, and including Mizuho, National Bank Financial, RBC Capital Markets, Scotiabank, Merrill Lynch, BTIG, LLC, CIBC Capital Markets, Goldman Sachs, Raymond James, TD Securities, Wells Fargo and Stifel Nicolaus. Colliers has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any.

The net proceeds of the Offering will be used to repay balances outstanding on the Company’s credit facility and are intended to create additional capacity to fund potential future acquisition opportunities and growth initiatives, and for general corporate purposes.

No securities regulatory authority has either approved or disapproved of the contents of this news release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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