{"id":451018,"date":"2021-03-04T11:18:37","date_gmt":"2021-03-04T16:18:37","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451018"},"modified":"2021-03-04T11:18:37","modified_gmt":"2021-03-04T16:18:37","slug":"wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/","title":{"rendered":"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">HALIFAX, NS<\/span>, <span class=\"xn-chron\">March 4, 2021<\/span> \/PRNewswire\/ &#8211;\u00a0WildBrain Ltd. (&#8220;<b>WildBrain<\/b>&#8221; or the &#8220;<b>Company<\/b>&#8220;) (TSX: WILD), a global leader in kids and family entertainment, has completed a <span class=\"xn-money\">US$6.3 million<\/span> subsequent closing of the previously announced financing with its largest shareholder, Fine Capital Partners L.P. (&#8220;<b>Fine Capital<\/b>&#8220;), on behalf of certain funds managed by Fine Capital (the &#8220;<b>Financing<\/b>&#8220;).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1449363\/WildBrain_Ltd__WildBrain_Draws_Down_Remaining_US_6_3_Million_of.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1449363\/WildBrain_Ltd__WildBrain_Draws_Down_Remaining_US_6_3_Million_of.jpg\" title=\"WildBrain - logo (CNW Group\/WildBrain Ltd.)\" alt=\"WildBrain - logo (CNW Group\/WildBrain Ltd.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Pursuant to the terms of the Financing announced in <span class=\"xn-chron\">May 2020<\/span>, Fine Capital agreed to purchase up to <span class=\"xn-money\">US$18,497,500<\/span> (the US dollar equivalent of <span class=\"xn-money\">CAD$25.0 million<\/span><sup>1<\/sup>) of exchangeable secured debentures (the &#8220;<b>Exchangeable Debentures<\/b>&#8220;) issued by a subsidiary of the Company (&#8220;<b>Subco<\/b>&#8220;). At the initial closing of the Financing in <span class=\"xn-chron\">June 2020<\/span>, Fine Capital subscribed for <span class=\"xn-money\">US$12,208,350<\/span> of Exchangeable Debentures, along with warrants to purchase 5,000,000 variable voting shares of the Company (the &#8220;<b>Variable Voting Shares<\/b>&#8220;) at a price of <span class=\"xn-money\">CAD$1.45<\/span> per Variable Voting Share. Today, Subco issued the remaining balance of <span class=\"xn-money\">US$6,289,150<\/span> in Exchangeable Debentures to Fine Capital. The financing structure does not increase the Company&#8217;s leverage ratio for covenant purposes under its senior credit facility<sup>2<\/sup>.<\/p>\n<p>The Exchangeable Debentures are exchangeable for Variable Voting Shares at a price of <span class=\"xn-money\">US$1.072855<\/span> per Variable Voting Share (the US dollar equivalent of <span class=\"xn-money\">CAD$1.45<\/span><sup>1<\/sup>).<\/p>\n<p>Further details on the Exchangeable Debentures can be found in the Company&#8217;s annual information form dated <span class=\"xn-chron\">September 22, 2020<\/span> which is available on SEDAR at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3086033-1&amp;h=2524319987&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<div>\n<table id=\"convertedTablea7cc\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>1.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>F\/x exchange rate of <\/i><br \/>\n                  <i>1.3516 CAD to USD.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Net debt includes long-term debt and bank indebtedness less cash and excludes interim production financing. Net leverage ratio as discussed in this press release is a reference to the Total Net Leverage Ratio as defined in the Company&#8217;s senior secured credit agreement available on SEDAR at\u00a0<u>sedar.com<\/u>.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>For more information, please contact:<\/b>\n      <\/p>\n<p>Investor Relations:\u00a0Nancy Chan-Palmateer &#8211; Director, Investor Relations, WildBrain<br \/><u><a target=\"_blank\" href=\"mailto:nancy.chanpalmateer@wildbrain.com\" rel=\"nofollow noopener noreferrer\">nancy.chanpalmateer@wildbrain.com<\/a><br \/><\/u>+1 416-977-7358<\/p>\n<p>Media: <span class=\"xn-person\">Shaun Smith<\/span> &#8211; Director, Corporate &amp; Trade Communications, WildBrain<br \/><u><a target=\"_blank\" href=\"mailto:shaun.smith@wildbrain.com\" rel=\"nofollow noopener noreferrer\">shaun.smith@wildbrain.com<\/a><br \/><\/u>+1 416-977-7230<\/p>\n<p>\n        <b>About WildBrain<\/b>\n      <\/p>\n<p>At WildBrain we inspire imaginations to run wild, engaging kids and families everywhere with great content across all media. With approximately 13,000 half-hours of filmed entertainment in our library \u2013 one of the world&#8217;s most extensive \u2013 we are home to such brands as <i>Peanuts<\/i>, <i>Teletubbies<\/i>, <i>Strawberry Shortcake<\/i>, <i>Caillou<\/i>, <i>Inspector Gadget, <span class=\"xn-person\">Johnny Test<\/span><\/i> and <i>Degrassi<\/i>. At our 75,000-square-foot state-of-the-art animation studio in <span class=\"xn-location\">Vancouver, BC<\/span>, we produce such fan-favourite series as <i>The Snoopy Show<\/i>, <i>Snoopy in Space<\/i>, <i>Chip &amp; Potato<\/i>, <i><span class=\"xn-person\">Carmen Sandiego<\/span>, Go, Dog. Go!<\/i> and more. Our shows are enjoyed worldwide in more than 150 countries on over 500 streaming platforms and telecasters, and our AVOD business \u2013 WildBrain Spark \u2013 offers one of the largest networks of kids&#8217; channels on YouTube, garnering billions of views per month from over 150 million subscribers. We also license consumer products and location-based entertainment in every major territory for our own properties as well as for our clients and content partners. Our television group owns and operates four family entertainment channels that are among the most viewed in <span class=\"xn-location\">Canada<\/span>. WildBrain is headquartered in <span class=\"xn-location\">Canada<\/span> with offices worldwide and trades on the Toronto Stock Exchange (TSX: WILD). Please visit us at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3086033-1&amp;h=1141016990&amp;u=http%3A%2F%2Fwww.wildbrain.com%2F&amp;a=wildbrain.com\" rel=\"nofollow noopener noreferrer\">wildbrain.com<\/a>. <\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release contains &#8220;forward-looking statements&#8221; under applicable securities laws with respect to the Company including, without limitation, statements regarding an exchangeable secured debenture financing arrangement and expected use of net proceeds from such financing. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties and are based on information currently available to the Company. Actual results or events may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations, among other things, include the availability of investment opportunities and at acceptable valuations, epidemics, pandemics or other public health crises, including the current outbreak of COVID-19, the magnitude and length of economic disruption as a result of the worldwide COVID-19 outbreak, and risk factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under &#8220;Risk Factors&#8221; in the Company&#8217;s most recent Annual Information Form and annual Management Discussion and Analysis. These forward-looking statements are made as of the date hereof, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO98415&amp;sd=2021-03-04\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives-301240798.html\">http:\/\/www.prnewswire.com\/news-releases\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives-301240798.html<\/a><\/p>\n<p>SOURCE  WildBrain Ltd.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO98415&amp;Transmission_Id=202103041115PR_NEWS_USPR_____TO98415&amp;DateId=20210304\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire HALIFAX, NS, March 4, 2021 \/PRNewswire\/ &#8211;\u00a0WildBrain Ltd. (&#8220;WildBrain&#8221; or the &#8220;Company&#8220;) (TSX: WILD), a global leader in kids and family entertainment, has completed a US$6.3 million subsequent closing of the previously announced financing with its largest shareholder, Fine Capital Partners L.P. (&#8220;Fine Capital&#8220;), on behalf of certain funds managed by Fine Capital (the &#8220;Financing&#8220;). Pursuant to the terms of the Financing announced in May 2020, Fine Capital agreed to purchase up to US$18,497,500 (the US dollar equivalent of CAD$25.0 million1) of exchangeable secured debentures (the &#8220;Exchangeable Debentures&#8220;) issued by a subsidiary of the Company (&#8220;Subco&#8220;). At the initial closing of the Financing in June 2020, Fine Capital subscribed for US$12,208,350 of Exchangeable Debentures, along with warrants to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451018","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire HALIFAX, NS, March 4, 2021 \/PRNewswire\/ &#8211;\u00a0WildBrain Ltd. (&#8220;WildBrain&#8221; or the &#8220;Company&#8220;) (TSX: WILD), a global leader in kids and family entertainment, has completed a US$6.3 million subsequent closing of the previously announced financing with its largest shareholder, Fine Capital Partners L.P. (&#8220;Fine Capital&#8220;), on behalf of certain funds managed by Fine Capital (the &#8220;Financing&#8220;). Pursuant to the terms of the Financing announced in May 2020, Fine Capital agreed to purchase up to US$18,497,500 (the US dollar equivalent of CAD$25.0 million1) of exchangeable secured debentures (the &#8220;Exchangeable Debentures&#8220;) issued by a subsidiary of the Company (&#8220;Subco&#8220;). At the initial closing of the Financing in June 2020, Fine Capital subscribed for US$12,208,350 of Exchangeable Debentures, along with warrants to &hellip; Continue reading &quot;WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T16:18:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1449363\/WildBrain_Ltd__WildBrain_Draws_Down_Remaining_US_6_3_Million_of.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives\",\"datePublished\":\"2021-03-04T16:18:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\\\/\"},\"wordCount\":744,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1449363\\\/WildBrain_Ltd__WildBrain_Draws_Down_Remaining_US_6_3_Million_of.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\\\/\",\"name\":\"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/","og_locale":"en_US","og_type":"article","og_title":"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives - Market Newsdesk","og_description":"PR Newswire HALIFAX, NS, March 4, 2021 \/PRNewswire\/ &#8211;\u00a0WildBrain Ltd. (&#8220;WildBrain&#8221; or the &#8220;Company&#8220;) (TSX: WILD), a global leader in kids and family entertainment, has completed a US$6.3 million subsequent closing of the previously announced financing with its largest shareholder, Fine Capital Partners L.P. (&#8220;Fine Capital&#8220;), on behalf of certain funds managed by Fine Capital (the &#8220;Financing&#8220;). Pursuant to the terms of the Financing announced in May 2020, Fine Capital agreed to purchase up to US$18,497,500 (the US dollar equivalent of CAD$25.0 million1) of exchangeable secured debentures (the &#8220;Exchangeable Debentures&#8220;) issued by a subsidiary of the Company (&#8220;Subco&#8220;). At the initial closing of the Financing in June 2020, Fine Capital subscribed for US$12,208,350 of Exchangeable Debentures, along with warrants to &hellip; Continue reading \"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-04T16:18:37+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1449363\/WildBrain_Ltd__WildBrain_Draws_Down_Remaining_US_6_3_Million_of.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives","datePublished":"2021-03-04T16:18:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/"},"wordCount":744,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1449363\/WildBrain_Ltd__WildBrain_Draws_Down_Remaining_US_6_3_Million_of.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/wildbrain-draws-down-remaining-us6-3-million-of-us18-5m-financing-for-growth-initiatives\/","name":"WildBrain Draws Down Remaining US$6.3 Million of US$18.5M Financing for Growth Initiatives - 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