An anonymous director reports
BOYD GROUP SERVICES INC. ANNOUNCES CLOSING OF US$897 MILLION BOUGHT DEAL INITIAL PUBLIC OFFERING IN THE UNITED STATES
Boyd Group Services Inc. has closed its previously announced bought deal public offering of common shares in Canada and the United States, representing the company's initial public offering in the United States. The company issued a total of 6,361,800 common shares, including 829,800 common shares following the exercise in full by the underwriters of their option to purchase additional common shares, at a price of $141 (U.S.) per share, for gross proceeds to the company of approximately $897-million (U.S.).
Boyd Group Services intends to use the net proceeds from the offering to partially finance the acquisition of Joe Hudson's Collision Center, a provider of automotive collision repair services, the details of which were previously announced by the company.
About Boyd Group Services Inc.
Boyd Group Services is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services shares trade on the Toronto Stock Exchange under the symbol BYD and on the New York Stock Exchange under the symbol BGSI.
About The Boyd Group Inc.
The Boyd Group is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. Boyd operates locations in Canada under the trade names Boyd Autobody & Glass and Assured Automotive as well as in the United States under the trade name Gerber Collision & Glass. In addition, Boyd is a major retail auto glass operator in the United States with operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. Boyd also operates a third party administrator, Gerber National Claims Services, that offers glass, emergency roadside and first-notice-of-loss services. Boyd also operates a mobile auto solutions (MAS) service that offers scanning and calibration services.
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