GoldCorp Inc. completed a secondary bought deal offering of common shares of Primero Mining Corp. in connection with an underwriting agreement with Canaccord Genuity Corp., CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.
The underwriters purchased 31,151,200 common shares of Primero from Goldcorp at a purchase price of $7.20 per share for gross proceeds of approximately $224 million.
Primero did not receive any part of the proceeds from the Offering. Following completion of the Offering, Goldcorp no longer owns any common shares of Primero.
The underwriters were represented by McCarthy Tétrault LLP with a team including Gary Litwack, Ryan Hornby, David Badour, Lama Sabbagh and Graeme Norwood (securities) and Nigel Johnston (tax); and by Christopher Cummings (US securities) of Paul, Weiss, Rifkind, Wharton & Garrison LLP.
Primero was represented in-house by Maura Lendon, Vice President, Chief General Counsel and Corporate Secretary; by McMillan LLP with a team including Leo Raffin, Cory Kent and Bosa Kosoric (securities) and Michael Taylor (US corporate/securities); and by US counsel Milbank, Tweed, Hadley & McCloy LLP with a team including Mark Mandel (US corporate and securities), Brett Nadritch (US securities) and Russell Kestenbaum (US tax).
Goldcorp was represented in-house by Benjamin Lee, Senior Corporate Counsel; by Cassels Brock & Blackwell LLP with a team including Paul Stein, Jennifer Traub, and Jennifer Hansen (securities and mining); and by Neal, Gerber & Eisenberg LLP with a team including David Stone, John Koenigsknecht, Beth Rosner, Chloe Milstein, Kristen Goodfellow (US securities) and Andrea Despotes (US tax).