Aecon Announces $150 Million Bought Deal Offering of Common Shares

Executive Summary

• Aecon Group Inc. entered into a bought‑deal agreement to sell 3,822,000 common shares at $39.25 per share for gross proceeds of approximately $150.0 M.
• Underwriters have an over‑allotment option for up to 573,300 additional shares, potentially adding ~$23 M in gross proceeds.
• Net proceeds are earmarked primarily to repay amounts drawn under Aecon’s revolving credit facility, with any excess allocated to general corporate purposes.

Key Details

• Offering Size: 3,822,000 common shares from treasury.
• Offering Price: $39.25 per share.
• Gross Proceeds (Base Offering): ≈ $150,013,500.
• Over‑Allotment Option: Up to 573,300 additional shares at the same price; potential extra gross proceeds of up to ≈ $23 M.
• Underwriters: Syndicate led by CIBC Capital Markets and TD Securities Inc. (the “Underwriters”).
• Use of Proceeds:
• Primary: Repayment of borrowings under Aeon’s revolving credit facility.
• Secondary: General corporate purposes, to the extent any net proceeds remain after repayment.
• Offering Mechanics: Short‑form prospectus in all Canadian provinces; possible private placement in the United States exempt from registration.
• Regulatory Conditions: Subject to customary approvals, including Toronto Stock Exchange listing approval.
• Filing Timeline: Preliminary short‑form prospectus to be filed no later than March 17 2026 with Canadian securities regulators.
• Closing Expectation: Anticipated on or about March 27 2026.
• Over‑Allotment Exercise Window: Up to 30 days after the closing of the offering.

Notable Quotes

(No executive quotes were included in the release.)