goeasy Ltd.

The Underwriters in goeasy’s $172.5 million subscription receipt offering in connection with its $320 million proposed acquisition of LendCare

Client

The Underwriters

Value

$172.5 million

Service

Capital Markets

Date Closed

Industry

FinTech

Lead Office

Toronto

 

On April 12, 2021, goeasy Ltd., a leading full-service provider of goods and alternative financial services, announced it had entered into a definitive agreement to acquire LendCare Holdings Inc. for $320 million. In connection with the acquisition, goeasy also announced a concurrent $130 million bought deal equity offering (subsequently upsized to $150 million ($172.5 million upon exercise of the over-allotment option by the Underwriters on April 13, 2021)), made through a syndicate of underwriters led by BMO Capital Markets. The acquisition is expected to accelerate goeasy’s growth in the consumer credit market through the expansion of its product range.

LendCare is one of Canada’s leading point-of-sale financing providers, specializing in financing consumer purchases in the powersports, automotive, retail, healthcare, and home improvement verticals.

Osler, Hoskin & Harcourt LLP advised the underwriters with a team consisting of Michael Innes, Sandra Malcom and Kevin Feng (Corporate), Timothy Hughes and James Chang (Tax).