On May 20, 2025, TerraVest Industries Inc. launched a public offering of 1,740,000 common shares at a price of $160.30 per share, for gross proceeds of $278,922,000. The closing of the offering is expected on or about May 23, 2025. After deducting the underwriters’ fee of $11,156,880 and estimated expenses of $795,000, the anticipated net proceeds to TerraVest are approximately $266.97 million. An over-allotment option of up to 261,000 additional shares may bring the total gross proceeds to $320,760,300, with net proceeds reaching about $307.13 million if fully exercised.

The offering is being underwritten by a syndicate led by National Bank Financial Inc., Canaccord Genuity Corporation, and Desjardins Securities Inc., along with Scotia Capital Inc., CIBC World Markets Inc., ATB Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., and TD Securities Inc. Legal counsel is provided by McCarthy Tétrault LLP for TerraVest and Blake, Cassels & Graydon LLP for the underwriters.

TerraVest intends to use the proceeds for future growth opportunities, debt repayment, and general corporate purposes. The company has applied to list the offered shares on the Toronto Stock Exchange under the symbol “TVK.”