Student Transportation Completes $60M IPS Offering

On June 14, 2006, Student Transportation of America Ltd. and Student Transportation of America ULC closed an offering of 4,900,000 income-participating securities at a price of $12.25 per IPS for total gross proceeds of $60,025,000. The offering was underwritten by a syndicate of underwriters led by CIBC World Markets Inc., and including Sprott Securities Inc., Wellington West Capital Markets Inc. and National Bank Financial Inc.
Student Transportation is the fifth-largest provider of school bus transportation services in North America and currently operates more than 4,000 school vehicles in North America. Net proceeds from the financing will be used to repay existing indebtedness incurred in respect of recent acquisitions, including Positive Connections Inc. and Liftlock Coach Lines Limited, and to fund investment requirements of previously announced contract awards and for general corporate purposes.
Goodmans LLP represented STA with a team that included Stephen Pincus, Bob Vaux, Meredith Roth, Mark Spiro and David Nathanson (corporate/securities); Jon Northup and Peter Jovicic (tax); by Robert Byrne of Byrne Law Office; and in the United States by Hodgson Russ LLP, with a team that included Richard Raymer (corporate) and Carol Fitzsimmons (tax).
Torys LLP represented the underwriting syndicate in Canada and the United States with a team that included Kevin Morris, Adam Armstrong, Jeff Scheine, Gregg Larson, Corrado Cardarelli, Catrina Card, Tyson Dyck and Mike Arnot.


Peter Jovicic David Nathanson Kevin M. Morris Stephen N. Pincus Mark Spiro Tyson W. Dyck Robert Vaux Jeffrey D. Scheine Jon Northup Catrina M. Card Carol Fitzsimmons Robert H. Byrne Richard Raymer Corrado Cardarelli


Goodmans LLP Byrne Law Office Torys LLP