MEG Energy Completes Warburg Pincus $157 Million Secondary Offering

MEG Energy Corp. announced the completion of the secondary offering of common shares held by one of its principal shareholders, WP Lexington Private Equity B.V., an affiliate of Warburg Pincus LLC, pursuant to which WP Lex sold 5 million common shares of MEG at a price of $31.40 per common share for aggregate gross proceeds of $157 million. MEG did not receive any proceeds from the offering.

The offering was conducted on an underwritten, bought deal public issue by BMO Capital Markets in all provinces and territories of Canada by way of a short form prospectus. The offering was also extended to Qualified Institutional Buyers in the United States, pursuant to the registration exemptions provided by Rule 144A of the US Securities Act of 1933.

MEG was represented by Grant Borbridge, Vice President, Legal and General Counsel, Shannon Glover, Associate General Counsel, and David Mercier, Senior Legal Counsel; and by Bennett Jones LLP with a team led by Brent Kraus and including Harinder Basra and Donald Sullivan (capital markets) and Anu Nijhawan (tax).

BMO Capital Markets was represented by Blake, Cassels & Graydon LLP with a team led by Chad Schneider (capital markets) and including Chris Prokop and Whit McCaskill (capital markets).
WP Lex was represented by Stikeman Elliott LLP with a team led by Craig Story (corporate finance and securities) and including Bradley Ashkin (corporate finance and securities).


Brent W. Kraus Craig A. Story Shannon Glover David J. Mercier Anu Nijhawan Harinder Basra Chris D. Prokop Grant K. D. Borbridge Bradley Ashkin Chad Schneider