Diversified Royalty Corp. in its $69-million public offering of convertible debentures Diversified Royalty Corp. in its $69-million public offering of convertible debentures

On February 9, 2026, Diversified Royalty Corp. (DIV) completed its bought deal public offering of $60,000,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures (the Debentures) due March 31, 2031 (the Offering). The Offering was conducted by a syndicate of underwriters co-led by CIBC Capital Markets, as sole bookrunner, and Desjardins Securities Inc., together with Canaccord Genuity Corp., National Bank Financial Inc., Scotia Capital Inc., ATB Capital Markets Corp., BMO Nesbitt Burns Inc., iA Private Wealth Inc. and Raymond James Ltd.

On February 12, 2026, DIV issued an additional $9,000,000 aggregate principal amount of Debentures pursuant to the exercise in full, by the underwriters, of the over-allotment option. DIV intends to use the net proceeds of the Offering to repay outstanding amounts under DIV’s acquisition facility, to fund expected additions to the royalty pools of certain of DIV’s royalty partners and for working capital and general corporate purposes.

DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.

Osler, Hoskin & Harcourt LLP advised DIV on the Offering with a team consisting of Brad Newby, Trevor Scott, Minji Park, Vanessa Yee and Jaclyn Miller (Corporate), Timothy Hughes, Kim Maguire and Sean Timlick (Tax).