StorageVault Announces Full Exercise of Over-Allotment Option

Executive Summary

• StorageVault Canada Inc. completed its senior unsecured hybrid debenture offering, raising total gross proceeds of $57.5 million after the underwriters exercised their full over‑allotment option for an additional $7.5 million.
• The debentures bear a 5.60% annual interest rate, payable semi‑annually, and mature on December 31, 2030; they began trading on the TSX under “SVI.DB.D” on November 28, 2025.
• Net proceeds will be used to pay down existing bank debt (including potential redrawing for redemption of 5.75% debentures due Jan 31, 2026), fund possible acquisitions, and support general corporate purposes.

Key Details

• Offering Size: $57.5 million total gross proceeds
• Original issuance: $50 million (principal) at $1,000 per debenture

• Over‑allotment exercised: additional $7.5 million principal at $1,000 per debenture

• Underwriters:

• Lead managers – CIBC World Markets Inc. and Scotia Capital Inc.

• Syndicate participants – National Bank Financial Inc., TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc., Desjardins Securities Inc., Raymond James Ltd.

• Debenture Terms:

• Interest rate: 5.60% per annum
• Payment schedule: Semi‑annual in arrears on June 30 and December 31 each year (first payment June 30, 2026)
• Maturity date: December 31, 2030

• Trading symbol: “SVI.DB.D” on the Toronto Stock Exchange (since Nov 28, 2025)

• Use of Proceeds:

• Primary – Pay down existing bank debt; may be re‑drawn to redeem 5.75% listed debentures due Jan 31, 2026
• Secondary – Fund potential future acquisitions

• Residual – General corporate purposes

• Regulatory Notes:

• Offered under a short‑form prospectus dated November 25, 2025 filed in Canadian provinces.
• Securities not registered under the U.S. Securities Act; distribution restricted to non‑U.S. persons per Regulation S.

Notable Quotes

(No direct quotes were provided in the release.)