PCP-backed Neighbourly raises C$193m in close of IPO

Neighbourly Pharmacy, a Toronto-based network of community pharmacies, has closed its initial public offering of common shares, raising about C$175 million.

Neighbourly Pharmacy, a Toronto-based network of community pharmacies, has closed its initial public offering of common shares, raising about C$175 million. Rx Sidecar II LP also bought shares, generating a further C$18 million in proceeds. Neighbourly, backed by Persistence Capital Partners, will commence trading today on the Toronto Stock Exchange under the symbol “NBLY”.

PRESS RELEASE

Neighbourly Announces Closing of Initial Public Offering

TORONTO, May 25, 2021 /CNW/ – Neighbourly Pharmacy Inc. (“Neighbourly” or the “Company”) (TSX: NBLY), Canada’s largest and fastest growing network of community pharmacies, today announced the closing of the Company’s initial public offering (the “Offering”) of 10,295,000 common shares at a price of $17.00 per common share (the “Offering Price”) for total gross proceeds of approximately $175 million.

In addition to the Offering, Rx Sidecar II, L.P. purchased, on a prospectus-exempt basis in Canada, 1,058,823 common shares at the Offering Price for additional aggregate gross proceeds of approximately $18 million.

Neighbourly’s common shares will commence trading today on the Toronto Stock Exchange under the symbol “NBLY”.

The Offering was led by Scotiabank and RBC Capital Markets as joint active bookrunners and BMO Capital Markets as joint bookrunner (collectively with Scotiabank and RBC Capital Markets, the “Co-Lead Underwriters”), together with a syndicate comprised of National Bank Financial Inc., TD Securities Inc., Desjardins Capital Markets, iA Private Wealth Inc., and HSBC.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company’s common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the Company’s common shares may not be offered, sold, or delivered within the United States unless pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Neighbourly in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Neighbourly Pharmacy Inc.

Neighbourly is Canada’s largest and fastest growing network of community pharmacies. United by their patient first focus and their role as essential and trusted healthcare hubs within their communities, Neighbourly’s pharmacies strive to provide accessible healthcare with a personal touch. Since 2015, Neighbourly has expanded its diversified national footprint to include 145 locations, reinforcing the Company’s reputation as the industry’s acquirer of choice.

For further information: please contact investorrelations@nbly.ca or visit www.neighbourlypharmacy.ca.