Vitamin and natural health products company Jamieson Wellness Inc (TSX: JWEL) has closed its initial public offering of common shares in Canada, raising more than $300 million. Of the total gross proceeds, about $55 million went to selling shareholders, including U.S. private equity firm CCMP Capital Advisors, which acquired the Windsor, Ontario-based company in 2014. Jamieson has also authorized a greenshoe option, which if fully exercised will provide CCMP with as much as $45 million in additional proceeds.
Jamieson Wellness Inc. Completes Initial Public Offering
TORONTO, ONTARIO–(Marketwired – July 7, 2017) –
Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX:JWEL) announced today that it has completed its initial public offering (the “Offering”) of common shares (“Common Shares”), including a treasury offering (the “Treasury Offering”) and a secondary offering (the “Secondary Offering”) by certain shareholders (the “Selling Shareholders”), including an entity which is controlled by certain funds to which investment advisory services are provided by CCMP Capital Advisors, LP (“CCMP”), of an aggregate of 19,050,000 Common Shares at a price of $15.75 per share (the “Offering Price”) for total gross proceeds of $300,037,500, with Jamieson Wellness and the Selling Shareholders receiving gross proceeds of $244,987,391 and $55,050,109, respectively.
Pursuant to the Offering, 15,554,755 Common Shares were issued by Jamieson Wellness pursuant to the Treasury Offering and 3,495,245 Common Shares were sold by the Selling Shareholders pursuant to the Secondary Offering. Jamieson Wellness did not receive any proceeds from the Secondary Offering.
The Common Shares will commence trading today on the Toronto Stock Exchange under the symbol “JWEL”.
BMO Capital Markets and RBC Capital Markets acted as joint bookrunners for the Offering with a syndicate that included CIBC World Markets Inc., Scotiabank, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp. and Cormark Securities Inc. (collectively, the “Underwriters”). CCMP granted to the Underwriters an over-allotment option (the “Over-Allotment Option”), exercisable in whole or in part for a period of 30 days following the closing of the Offering, to purchase up to an additional 2,857,500 Common Shares at the Offering Price for additional gross proceeds of up to $45,005,625 to CCMP, if the Over-Allotment Option is exercised in full.
This press release is not an offer of Common Shares for sale in the United States, and the Common Shares may not be offered or sold in the United States absent registration or an exemption from registration. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States.
About Jamieson Wellness
Jamieson Wellness is dedicated to improving the world’s health and wellness with its portfolio of innovative natural health brands. Established in 1922, Jamieson Vitamins is the Company’s heritage brand and Canada’s #1 consumer health brand. Jamieson Wellness manufactures and markets sports nutrition products and specialty supplements under its Progressive, Precision and Iron Vegan brands. The Company also markets products by Lorna Vanderhaeghe Health Solutions (LVHS), the #1 women’s natural health focused brand in Canada. For more information please visit jamiesonwellness.com.
Photo courtesy of Reuters/Mark Blinch