On July 7, 2016, Canadian Western Bank (CWB) closed its domestic public offering of 6,125,000 common shares at a price of $24.50 per share to raise gross proceeds of approximately $150 million.
CWB is a bank based in Edmonton.
The offering was underwritten on a bought deal basis by a syndicate led by BMO Nesbitt Burns Inc. and National Bank Financial Inc. and that included Canaccord Genuity Corp., CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Cormark Securities Inc., Desjardins Securities Inc. and Barclays Capital Canada Inc.
The common shares were issued under a short-form prospectus dated June 29, 2016.
Canadian Western Bank was represented by an in-house team led by Gail Harding, QC, Senior Vice President, General Counsel and Corporate Secretary, and Summer Bradko, AVP, Senior Legal Counsel & Chief Ethics Officer.
Torys LLP provided external support to Canadian Western Bank. The team from Torys was led by David Seville and included Robbie Leibel and Simonne Horwitz (Canadian securities), Blair Keefe (financial institutions), Catrina Card (tax), and Mile Kurta and Eme Baack (US securities).The underwriters were represented by McCarthy Tétrault LLP. The team from McCarthy Tétrault was led by Andrew Parker and included Barry Ryan, Omar Soliman and Suraj Rammohan (corporate/securities) and Gabrielle Richards (tax).