Storagevault underwriters exercise $7.5M greenshoe

Executive Summary

• Storagevault exercised its underwriters' overallotment option in full, adding $7.5 million to the total gross proceeds of its senior unsecured hybrid debenture offering, bringing the total raised to $57.5 million.
• The debentures carry a 5.60% annual interest rate, payable semi-annually, and mature on December 31, 2030.
• Net proceeds are designated for paying down existing bank debt, refinancing existing debentures due in January 2026, funding potential acquisitions, and general corporate purposes.

Key Details

• Transaction Structure: Exercise of overallotment option for listed senior unsecured hybrid debentures.
• Additional Proceeds: $7.5 million aggregate principal amount from the exercise of the overallotment.
• Total Gross Proceeds: $57.5 million.
• Issuance Price: $1,000 per debenture.
• Interest Rate: 5.60% per annum.
• Interest Payment Schedule: Semi-annually in arrears on June 30 and December 31.
• First Interest Payment Date: June 30, 2026.
• Maturity Date: December 31, 2030.
• Trading Symbol: SVI.DB.D on the Toronto Stock Exchange.
• Trading Start Date: November 28, 2025.
• Lead Underwriters: CIBC World Markets Inc. and Scotia Capital Inc.
• Syndicate Members: National Bank Financial Inc., TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc., Desjardins Securities Inc., and Raymond James Ltd.
• Use of Proceeds:
  • Initially pay down bank debt.
  • Subsequently redraw bank debt to finance redemption of 5.75% listed debentures due January 31, 2026.
  • Finance potential future acquisitions.
  • General corporate purposes.
• Regulatory Filing: Short-form prospectus dated November 25, 2025, filed in each of the provinces of Canada.

Notable Quotes

• No direct quotes from management were included in the provided text.