/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, March 24, 2021 /CNW/ - Boat Rocker Media Inc.
("Boat Rocker Media" or the "Company"), an independent, integrated
global entertainment company, announced today the closing of its
previously announced initial public offering (the "Offering") of
subordinate voting shares of the Company for total gross proceeds
to the Company of C$170,100,000.
The subordinate voting shares will commence trading on the
Toronto Stock Exchange today under the ticker symbol "BRMI".
"The completion of our IPO represents an exciting next chapter
for Boat Rocker," said David Fortier
and Ivan Schneeberg, Co-Founders and
Co-Executive Chairmen, Boat Rocker Media and Co-Chairmen, Boat
Rocker Studios. "We're proud of what the company has achieved to
date, but believe we're just starting to unlock the full potential
of our multi-genre IP creation engine."
"Following the completion of our IPO we have enhanced balance
sheet strength and financial flexibility to advance our growth
strategy, against a backdrop of robust and growing demand for
content globally," said John Young,
Chief Executive Officer of Boat Rocker Media. "We are now in an
ideal position to pursue a range of initiatives designed to
further expand our creative and commercial capabilities and deliver
shareholder value."
The Offering was underwritten by a syndicate of underwriters led
by RBC Capital Markets and TD Securities Inc., as joint
bookrunners, J.P. Morgan Securities Canada Inc., as co-lead
manager, and including BMO Capital Markets, Scotiabank, Cormark
Securities Inc., and Canaccord Genuity Corp.
The underwriters have been granted an over-allotment option to
purchase up to an additional 2,835,000 subordinate voting shares at
a price of C$9.00 per share for
additional gross proceeds of C$25,515,000 if the over-allotment option is
exercised in full. The over-allotment option can be exercised for a
period of 30 days after the closing date of the Offering.
Stikeman Elliott LLP acted as legal counsel to Boat Rocker Media
and Goodmans LLP acted as legal counsel to the underwriters.
Whiteshell Advisory Inc. acted as an advisor to the Company.
No securities regulatory authority has either approved or
disapproved the contents of this news release. This news release
does not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale or any acceptance of an
offer to buy the subordinate voting shares in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell the subordinate voting shares or
any other securities in the United
States. The securities issued under the Offering have not
been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities
Act"), or the securities laws of any state of the United States and may not be offered, sold
or delivered, directly or indirectly, in the United States, except to Qualified
Institutional Buyers (as defined in Rule 144A of the U.S.
Securities Act) pursuant to an exemption from the registration
requirements of the U.S. Securities Act and applicable state
securities laws.
About Boat Rocker Media
Boat Rocker Media is an independent, integrated global
entertainment company that harnesses the power of creativity and
commerce to tell stories and build iconic brands for audiences
around the world. Boat Rocker Studios (the "Studio"), the Company's
creative engine, creates, produces and distributes award-winning
content and franchises across all major genres via its Scripted,
Unscripted, and Kids & Family divisions. The Studio distributes
and licenses thousands of hours of its own and third-party content
worldwide. Boat Rocker Media owns or invests in companies in the
entertainment industry that bolster the company's strategic and
operational goals, including Insight Productions (Unscripted), Jam
Filled Entertainment (2D and 3D Animation), Industrial Brothers
(Kids & Family Animation) and Untitled Entertainment, a leading
global talent management company that represents leading on-screen
talent and celebrities. A selection of Boat Rocker Media's projects
include: Orphan Black (BBC AMERICA, CTV Sci-Fi Channel),
Dear…(Apple TV+), Lip Sync Battle (Paramount
Network), The Amazing Race Canada (CTV), MasterChef
Canada (CTV), The Next Step (Family Channel, CBC),
The Loud House (Nickelodeon), Remy & Boo
(Universal Kids, CBC), and Dino
Ranch (CBC, Disney Junior). For more information, please
visit www.boatrocker.com.
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 Final
Prospectus. Actual results could differ materially from those
projected herein. Boat Rocker Media 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.
SOURCE Boat Rocker Media Inc.
