June 27, 2022

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Brompton Lifeco Split Corp. Completes Treasury Offering

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TORONTO, April 06, 2022 (GLOBE NEWSWIRE) — (TSX: LCS, LCS.PR.A) Brompton Lifeco Split Corp. (the “Company”) is pleased to announce that it has completed the previously announced treasury offering of class A shares and preferred shares (the “Class A Shares” and “Preferred Shares”, respectively) for aggregate gross proceeds of approximately $30 million. The Class A Shares and Preferred Shares will trade on the Toronto Stock Exchange (“TSX”) under the existing symbols LCS (Class A Shares) and LCS.PR.A (Preferred Shares).

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The Class A Shares were offered at a price of $6.70 per Class A Share for a distribution rate of 13.4% on the issue price, and the Preferred Shares were offered at a price of $10.05 per Preferred Share for a yield to maturity of 6.6%.(1) The Class A Share and Preferred Share offering prices were determined so as to be non-dilutive to the most recently calculated net asset value per unit of the Company (“Unit”) (calculated as at March 24, 2022), as adjusted for dividends and certain expenses to be accrued prior to or upon settlement of the offering.

Over the last 10 years, the Class A Shares have delivered a 32.3% per annum total return based on net asset value (“NAV”) and the Preferred Shares have returned 5.9% per annum, as of March 31, 2022.(1)

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2022-04-06 08:50:15

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