CPE News (4/30/2021) – dentalcorp Holdings Ltd., a portfolio company of L Catterton, Imperial Capital Group and OPTrust, has filed a preliminary base PREP prospectus for a proposed initial public offering of subordinate voting shares.
The terms of the offering have yet to be determined.
dentalcorp Holdings has applied to list the subordinate voting shares on the Toronto Stock Exchange (TSX) under the symbol “DNTL.”
Toronto based dentalcorp is Canada’s largest network of dental practices. Leveraging its industry-leading technology, know-how and scale, dentalcorp offers dental professionals the unique opportunity to retain their clinical autonomy while unlocking their potential for future growth. The company currently has 412 practices nationwide (434 inclusive of signed LOIs) and 324 partners (347 inclusive of signed LOIs).
As of April 15, 2021, dentalcorp Holdings had over 5,000 employees, and its network included over 1,300 dentists, 1,600 hygienists and 4,000 auxiliary dental health professionals nationwide.
Immediately following the pre-closing capital changes and prior to the closing of the offering, L Catterton and founder & CEO Graham Rosenberg, the two principal shareholders, will beneficially control 61,021,349 subordinate voting shares and 8,084,323 multiple voting shares (100%) respectively.
Imperial Capital Group and OpTrust, two significant shareholders, will hold 10,719,267 subordinate voting shares and 4,660,561 subordinate voting shares respectively.
photo credit: dentalcorp Holdings
News Release
dentalcorp Files Preliminary Prospectus for Initial Public Offering
Not for distribution to U.S. newswire services or dissemination in the United States
TORONTO, ON – April 30, 2021 – dentalcorp Holdings Ltd. (“dentalcorp” or the “Company”) announced today that it has filed with the securities regulatory authorities in each of the provinces and territories of Canada, and obtained a receipt for, a preliminary base PREP prospectus (the “Preliminary Prospectus”) for a proposed initial public offering of subordinate voting shares (the “Offering”). The number of subordinate voting shares to be sold and the price per subordinate voting shares have not yet been determined.
The Offering is being made through a syndicate of underwriters led by CIBC Capital Markets, Jefferies Securities, Inc., BMO Capital Markets and TD Securities Inc. acting as joint active bookrunners, and includes RBC Capital Markets and BofA Securities acting as passive bookrunners, and Canaccord Genuity Corp. and Scotia Capital Inc.
The Preliminary Prospectus contains important information relating to the Offering and is still subject to completion or amendment. The Preliminary Prospectus is available on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the subordinate voting shares until a receipt for the final prospectus has been issued.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting 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. Accordingly, the subordinate voting shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of dentalcorp in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About dentalcorp
dentalcorp is Canada’s largest network of dental practices, committed to advancing the overall well-being of our patients by delivering the best clinical outcomes and an unforgettable experience. dentalcorp acquires leading dental practices, uniting its network of dental professionals by a common goal: to be Canada’s most trusted healthcare network. Leveraging its industry-leading technology, know-how and scale, dentalcorp offers dental professionals the unique opportunity to retain their clinical autonomy while unlocking their potential for future growth. Learn more dentalcorp.ca
Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and the factors discussed under “Risk Factors” in the Preliminary Prospectus. Actual results could differ materially from those projected herein. The Company 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 under applicable securities laws.
For further information, please contact:
Graham Rosenberg
CEO & Founder
investors@dentalcorp.ca