Dye & Durham Announces $175 Million Bought Deal Offering of Common Shares

Not for distribution to U.S. news wire services or dissemination in the United States.

TORONTO, Nov. 11, 2020 (GLOBE NEWSWIRE) — Dye & Durham Limited (“Dye & Durham” or the “Company”) (TSX: DND) today announced that it has entered into an agreement with an underwriting syndicate led by Scotia Capital Inc., Canaccord Genuity Corp. and BMO Capital Markets (collectively, the “Underwriters”) to complete a new issue (the “Offering”), on a bought deal basis, of an aggregate of 8,600,000 common shares at a purchase price of C$20.35 per common share for aggregate gross proceeds of C$175 million.

The Company has also granted the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the Offering, to purchase up to an additional 15% of the aggregate common shares to be sold pursuant to the Offering.

The Company intends to use the net proceeds of the Offering to accelerate the Company’s growth initiatives, including future acquisitions, for working capital and general corporate purposes, and to reduce outstanding indebtedness, which was generally incurred in connection with prior acquisitions.

Closing of the Offering is expected to occur on or about November 25, 2020, or such other date as may be agreed upon by the Company and the Underwriters, subject to customary closing conditions, including required approvals of the Toronto Stock Exchange.

No securities regulatory authority has either approved or disapproved the contents of this press release. The common shares have not been, and will not be, registered under the United States Securities Act, of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About D
ye & Durham

Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada and the United Kingdom, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations

Additional information can be found at www.dyedurham.com.


This press release
may contain forward-looking information
within the meanin
g of applicable securities laws,
which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumption
and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, failure to complete the Offering
, and the factors
to be
discussed under “Risk Factors”
in the preliminary base shelf prospectus and
prospectus supplement, when available. Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

For further information, please contact:

Adam Peeler
LodeRock Advisors Inc.
[email protected]