Canadian Life Companies Split closes $60.1M offering

Executive Summary

• Canadian Life Companies Split Corp. has completed an overnight offering of preferred shares and Class A shares, raising total gross proceeds of $60.1 million.
• The offering was led by National Bank Financial Inc., with preferred shares priced at $10.45 and Class A shares priced at $7.65.
• Net proceeds will be used to invest in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies: Great-West Lifeco Inc., iA Financial Corp. Inc., Manulife Financial Corp., and Sun Life Financial Inc.

Key Details

• Total Gross Proceeds: $60.1 million
• Preferred Shares:
  • Price: $10.45 per share
  • Ticker Symbol: LFE.PR.B (trading on the Toronto Stock Exchange)
• Class A Shares:
  • Price: $7.65 per share
  • Ticker Symbol: LFE (trading on the Toronto Stock Exchange)
• Underwriter/Lead Manager: National Bank Financial Inc.
• Use of Proceeds: Investment in an actively managed portfolio consisting primarily of:
  • Great-West Lifeco Inc.
  • iA Financial Corp. Inc.
  • Manulife Financial Corp.
  • Sun Life Financial Inc.
• Regulatory Documents: Prospectus supplement to the company's short form base shelf prospectus dated May 1, 2024, as amended Oct. 2, 2025.