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St. Albert, Alberta--(Newsfile Corp. - December 6, 2024) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the "Company" or "Enterprise Group"), a consolidator of services to the energy sector that is focused primarily on specialized equipment rental is pleased to announce that it has filed a final short form prospectus (the "Prospectus") in each of the provinces of Canada, other than Québec, with respect to the previously announced bought deal offering of 13,157,900 common shares of the Company ("Offered Shares") at a price of $1.90 per Offered Share for gross proceeds of approximately $25.0 million (the "Offering") through a syndicate of underwriters comprised of Canaccord Genuity Corp., Raymond James Ltd. and Acumen Capital Finance Partners Limited (the "Underwriters").
Access to the Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment thereto. The Prospectus is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus and any amendment thereto may be obtained, without charge, by contacting Canaccord Genuity Corp. by phone at 416-869-3052 or by e-mail at ecm@cgf.com by providing the contact with an email address or address, as applicable.
In connection with the Offering, the Company has also granted the Underwriters an over-allotment option (the "Over-Allotment Option"), exercisable for a period of 30 days from the date of the closing of the Offering, to purchase up to an additional 15% of the aggregate common shares to be sold pursuant to the Offering. In the event the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately $28.8 million.
Closing of the Offering is expected to occur on or about December 12, 2024, or such other date as may be agreed upon by the Company and the Underwriters, subject to customary closing conditions.
This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in the U.S. Securities Act), absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.