Toronto, Ontario — October 2, 2023 — Constellation Software Inc. (TSX: CSU) (the “Company”) announced today the results of its previously announced rights offering (“Rights Offering”) pursuant to which the Company distributed rights (“Rights”) entitling existing holders of common shares of the Company on the applicable record date to purchase up to C$700 million aggregate principal amount of unsecured subordinated floating rate debentures, Series 1 of the Company (the “Series 1 Debentures”).
A total of C$213,118,500 principal amount of Series 1 Debentures have been subscribed for by, and will be issued to, holders who exercised their Rights on or prior to September 29, 2023, the expiry date. The Series 1 Debentures will be issued at a price of C$133.00 per C$100 principal amount of Series 1 Debentures purchased representing proceeds to the Company of C$283,447,605, which will be used by the Company to pay down indebtedness under its existing credit facility.
The Series 1 Debentures are expected to be issued by the Company on October 6, 2023. The Series 1 Debentures will be issued as an additional tranche of, and will form a single series with, the outstanding C$282.2 million aggregate principal amount of unsecured subordinated floating rate debentures, Series 1 of the Company.
Forward Looking Statements
The statements contained in this press release which are not historical facts are forward-looking statements, which involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Words such as “may”, “will”, “expect”, “believe”, “plan”, “intend”, “should”, “anticipate” and other similar terminology are intended to identify forward-looking statements. These statements reflect current assumptions and expectations regarding future events and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements.
About Constellation Software Inc.
The Company’s common shares are listed on the TSX under the symbol “CSU”. The Company’s unsecured subordinated floating rate debentures, Series 1 are listed on the TSX under the symbol “CSU.DB”. The Company acquires, manages and builds vertical market software businesses.
For further information please contact:
Chief Financial Officer