Journey Energy Inc. completed an initial public offering of 14 million of its common shares and a secondary offering by Infra-PSP Partners Inc. (selling shareholder) of 2.5 million common shares (collectively, the Offering) at a price of $12 per common share for aggregate gross proceeds of $198 million.
The offering was made through a syndicate of underwriters co-led by BMO Capital Markets and CIBC and including Peters & Co. Limited, Cormark Securities Inc., FirstEnergy Capital Corp., RBC Capital Markets, TD Securities Inc., and AltaCorp Capital Inc.
Journey was represented by Stikeman Elliott LLP as to matters of Canadian law, with a team including Chipman Johnston, Brad Squibb, Amanda Coen and Alice Davidson (corporate) and Julie D’Avignon (tax); and by Dorsey & Whitney LLP as to matters of US law with a team including Dan Miller (corporate).
The selling shareholder was represented by Norton Rose Fulbright Canada LLP, with a team including Justin Ferrara, Jason Giborski and Elizabeth von Engelbrechten (corporate) and Dion Legge (tax); and by Blake, Cassels & Graydon LLP with a team including Scott Clarke.
The underwriters were represented by Norton Rose Fulbright as to matters of Canadian law, with a team including Mark Eade, Kirsty Sklar, Peter Allegretto and Natasha Dhillon-Penner (corporate); and Ed Heakes and Daniel Bellefontaine (tax); and by Paul, Weiss, Rifkind, Wharton & Garrison LLP, as to matters of US law, with a team including Christopher Cummings and Ian Hazlett (corporate).