The Shares will be publically offered in Canada under a short form prospectus at a price of $12.00 per share (the "Offer Price"), representing an aggregate issue amount of $75,000,000, subject to the fulfillment of certain conditions.
Interfor has also granted the underwriters the option to purchase up to an additional 15% of the issue size at the Offering Price, such option to be exercised, in whole or in part, at the sole discretion of the underwriters at closing or anytime following closing of the offering for a period of 30 days.
Net proceeds from the offering will be used to complete a number of high return capital projects and to enhance the company's ability to pursue additional strategic initiatives. These proceeds will initially reduce outstanding indebtedness under existing revolving lines of credit.
The offering is subject to certain conditions, including the receipt of all necessary regulatory and stock exchange approvals and closing is expected to occur on or about October 1, 2013.
Interfor is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of more than 2.2 billion board feet and offers one of the most diverse lines of lumber products to customers around the world.