Boralex Completes $110M Bought Deal

On June 7, 2007, Boralex Inc. completed a public offering of Class A shares for gross proceeds of $100 million, which was underwritten by a syndicate led by Cormark Securities Inc., and included National Bank Financial Inc., GMP Securities L.P., CIBC World Markets Inc., Desjardins Securities Inc. and TD Securities Inc. At the closing, the underwriters exercised their over-allotment option, which resulted in additional proceeds of $10 million. Boralex Inc. is a major private electricity producer whose core business is the development and operation of power stations that run on renewable energy.

Boralex Inc. was represented by its general counsel Sylvain Aird, assisted by Pascal Hurtubise, in-house legal counsel, and by Fraser Milner Casgrain LLP. The FMC team included Charles Spector, Fran├žois Brais and Mindy Huang. Sandy Feldman of K&L Gates LLP also acted as US counsel to Boralex Inc.

The underwriters were represented by Stikeman Elliot LLP with a team that included Jean Marc Huot, Pierre-Yves Leduc and Jean-Daniel Dufour-Neyron.