Financings

AGT Food and Ingredients Inc. Completes Initial Public Offering and Concurrent Fairfax Private Placement for Total Gross Proceeds to AGT of $625 million

By The Northwire Desk — AI Analysis Mar 09, 2026 · 09:41 AGTF · 21.43 AGT FOOD AND INGREDIENTS INC. "WHEN ISSU

AGTF · Price

AGT Food and Ingredients Inc. completed a combined IPO and Fairfax‑affiliated private placement raising approximately $625 million in gross proceeds.
The offering consisted of a treasury sale of 18,478,212 shares ($425 M), a secondary sale of 1,065,288 shares ($24.5 M), and a Fairfax private placement of 8,695,700 shares ($200 M).
Net proceeds are earmarked to repay existing bank facilities, strengthening the company’s balance sheet as it transitions to a public entity.

Treasury Offering: 18,478,212 common shares at $23 per share → ~$425 M gross proceeds.
Secondary Offering: 1,065,288 common shares at $23 per share → ~$24.5 M gross proceeds.
Fairfax Private Placement: 8,695,700 common shares at $23 per share → ~$200 M gross proceeds.
Over‑Allotment Option: Up to 2,931,500 additional shares at $23 each; potential extra gross proceeds of ≈$50.3 M (≈$33.2 M to AGT, ≈$17.1 M to OMERS).
Use of Proceeds: Full amount to be used to repay outstanding bank facilities.
Shareholder Impact: Fairfax’s ownership will increase to ~55.8% of outstanding shares post‑placement (down from ~80%).
Trading Commencement: Shares began trading on the Toronto Stock Exchange under ticker AGTF on March 3, 2026.
Underwriters: Lead bookrunners – National Bank Capital Markets & Scotiabank; other participants include Raymond James Ltd., ATB Securities, Canaccord Genuity, BMO Capital Markets, RBC Capital Markets, TD Securities, CIBC Capital Markets, Desjardins Capital Markets.
Prospectus: Supplemented PREP prospectus dated February 27, 2026 filed with Canadian securities regulators (available on SEDAR+).
Regulatory Notice: Shares not registered under U.S. securities laws; offering limited to non‑U.S. persons or exempt transactions.

“Fairfax continues to be very impressed by the performance and progress made by Murad Al‑Katib and the AGT team…,” – Prem Watsa, Chairman & CEO, Fairfax Financial Holdings Ltd.
“We are excited to continue building a sustainable and profitable business as a public company with Fairfax as our partner,” – Murad Al‑Katib, President & CEO, AGT Food and Ingredients Inc.

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