CALGARY, Alberta, Jan. 25, 2021 (GLOBE NEWSWIRE) — DIRTT Environmental Options Ltd. (“DIRTT” or the “Firm”) (TSX:DRT, NASDAQ:DRTT), an inside building firm that makes use of proprietary software program to design, manufacture and set up totally customizable environments, is happy to announce the profitable closing of the problem and sale of C$35 million combination principal quantity of 6.00% convertible unsecured subordinated debentures (the “Debentures”). The Debentures have been supplied to the general public by a syndicate of underwriters (the “Underwriters”) led by Nationwide Financial institution Monetary Inc. The Firm has additionally granted the Underwriters an over-allotment choice to buy as much as an extra C$5.25 million combination principal quantity of Debentures on the identical phrases, exercisable in entire or partly at any time as much as the 30th day following the closing of the Providing.
A portion of the online proceeds of the Providing, along with the Firm’s leasing amenities and money reserves readily available, might be used for capital expenditures, together with investments within the Firm’s expertise innovation, with the remaining portion getting used for working capital, and common company functions, together with continued investments within the Firm’s gross sales and advertising and marketing capabilities.
The Debentures have been supplied in Canada (excluding Quebec) pursuant to a brief kind prospectus below Canadian regulation and in the USA pursuant to a “shelf” registration assertion on Kind S-3 (File No. 333-251660) beforehand filed with the U.S. Securities and Change Fee (the “SEC”) on December 23, 2020, and declared efficient by the SEC on January 6, 2021, and in sure different jurisdictions as have been agreed by the Underwriters and the Firm. Affords, solicitations and gross sales of the Debentures or widespread shares of DIRTT are made solely by way of the prospectus complement to the “shelf” registration assertion on Kind S-3 in the USA and the brief kind prospectus in Canada (excluding Quebec). The U.S. prospectus complement and Canadian brief kind prospectus referring to, and describing the phrases of, the Providing are filed with and out there on the SEC’s web site at www.sec.gov and SEDAR atsedar.com, as relevant. Digital copies of the U.S. prospectus complement and Canadian brief kind prospectus, might also be obtained, by contacting Nationwide Financial institution Monetary Inc. at 130 King Avenue West, Suite 3200, Toronto, ON M5X 1J9, by phone at (416)-869-6534 or e-mail at ECM-Origination@nbc.ca.
The Debentures might be listed on the Toronto Inventory Change below the image “DRT.DB”.
This press launch doesn’t represent a proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of those securities in any state or jurisdiction during which such provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
DIRTT is a constructing course of powered by expertise. The Firm makes use of its proprietary ICE® software program to design, manufacture and set up totally custom-made inside environments. The expertise drives DIRTT’s superior manufacturing and supplies certainty on value, schedule and the ultimate consequence. Full inside areas are constructed sooner, cleaner and extra sustainably. DIRTT has manufacturing amenities in Phoenix, Savannah and Calgary. The Firm works with over 75 companions all through North America. DIRTT trades on the Nasdaq below the image “DRTT” and on the Toronto Inventory Change below the image “DRT.” For extra info, go to dirtt.com/traders.
FORWARD LOOKING STATEMENTS:
This information launch comprises forward-looking info inside the which means of relevant securities laws, which displays the Firm’s present expectations concerning future occasions, together with statements in regards to the Providing and the proposed use of proceeds. In some circumstances forward-looking info might be recognized by such phrases as “will” and “anticipated”. Ahead-looking info relies on plenty of assumptions and is topic to plenty of dangers and uncertainties, lots of that are past the Firm ‘s management that would trigger precise outcomes and occasions to vary materially from these which can be disclosed in or implied by such forward-looking info. The Firm’s estimates, beliefs and assumptions, which can show to be incorrect. The dangers and uncertainties that will have an effect on forward-looking info embrace, however usually are not restricted to, market situations, the impact of COVID-19 on the Firm’s operations, enterprise and monetary outcomes, and different elements mentioned below “Dangers Elements” within the Firm’s
administration’s dialogue and evaluation for the three and 9 months ended September 30, 2020 and within the Firm’s Annual Report on Kind 10-Okay
dated February 25, 2020, each of which can be found on SEDAR (www.sedar.com) and on the SEC’s web site (www.sec.gov). The Firm doesn’t undertake any obligation to replace such forward-looking info, whether or not because of new info, future occasions or in any other case, besides as expressly required by relevant regulation. This forward-looking info speaks solely as of the date of this information launch.
FOR MORE INFORMATION, PLEASE CONTACT Kim MacEachern Investor Relations, DIRTT 403.618.4539 firstname.lastname@example.org