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On April 14, 2023, Global Dividend Growth Split Corp. announced an at-the-market equity offering of up to $150 million, equally split between Class A and Preferred Shares ($75 million each), listed on the TSX under "GDV" and "GDV.PR.A." The offering, closing by October 2024, aims to fund investments in large-cap global dividend growth companies.
RBC Dominion Securities Inc. acted as the sole agent. Legal counsel was provided by Osler, Hoskin & Harcourt LLP (issuer) and Stikeman Elliott LLP (agent). A 2.5% commission applies, with additional offering expenses estimated at $100,000.
The shares offer quarterly (Preferred) and monthly (Class A) distributions, with capital appreciation potential, aligning with the company's investment and rebalancing criteria.
Parties
Company
Global Dividend Growth Split Corp.
Bank
RBC Dominion Securities Inc.
Deal Type
Public/Private OfferingIndustry
Banking/FinanceTransaction
$ 75,000,000Deal Status
ClosedClosing Date
22 October 2024