NFI to receive USD150m cash injection from private placement
By Bradley Osborne - 5th June 2023
Canada / USA – NFI Group Inc of Winnipeg, Manitoba, Canada – owner of several bus and coach brands including New Flyer, MCI, and Alexander Dennis – announced in May that it will receive USD150m (CAD201m) from Coliseum Capital Management LLC of Rowayton, Connecticut, USA in exchange for over 24 million shares.
The aggregate of 24,363,702 shares will be acquired by Coliseum Capital Management on a private placement basis, at a subscription price of approximately USD6.1567 per share. The investment firm already holds 12.4% of NFI’s issued and outstanding common shares; following the closure of the private placement on 30 June, Coliseum Capital Management will own over a third of all NFI’s shares.
