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Cymbria Corp. closes financings for proceeds of $221.8 million

November 04, 2008

Cymbria Corp. Closes Financings for Proceeds of $221.8 Million 

TORONTO, Nov. 4 /CNW/ - EdgePoint Investment Group Inc. ("EdgePoint"), the manager of Cymbria Corporation ("Cymbria"), is pleased to announce that Cymbria has completed an initial public offering (the "Public Offering") of 13,000,000 non-redeemable class A shares ("Class A Shares") at a price of $10.00 per Class A Share. Cymbria has also closed a private placement (the "Private Offering') of 9,182,461 non-redeemable class J shares ("Class J Shares"), at a price of $10.00 per Class J Share. The aggregate gross proceeds of the Public Offering and the Private Offering is $221,824,610. 

Cymbria has granted to the Agents an over-allotment option, exercisable for a period of 30 days from today, to purchase up to 1,950,000 Class A Shares (15% of the aggregate number of Class A Shares issued in connection with the Public Offering). The Class A Shares are listed for trading on the Toronto Stock Exchange under the symbol "CYB". 

Cymbria's investment objective is to provide shareholders with long-term capital appreciation through an actively managed portfolio comprised primarily of global equity securities and a 22% interest in EdgePoint Wealth Management Inc., a wealth management company formed by EdgePoint, a company controlled by Tye Bousada, Patrick Farmer, Robert Krembil and Geoff MacDonald. 

The syndicate of agents is co-led by BMO Capital Markets and CIBC World Markets Inc. and includes RBC Capital Markets, Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., Dundee Securities Corporation, Blackmont Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Industrial Alliance Securities Inc., Raymond James Ltd., Richardson Partners Financial Limited, Desjardins Securities Inc., GMP Securities L.P., M Partners Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

Robert Krembil, a shareholder and director of EdgePoint, has control of 1,000,000 Class J Shares purchased through the Private Offering (all such shares are beneficially owned by The Krembil Foundation), representing approximately 10.9% of the issued and outstanding Class J Shares. These shares are held for investment purposes and may be disposed of from time to time or additional shares may be acquired. 

For information concerning Cymbria or the Public Offering please refer to the final prospectus, a copy of which may be obtained from your financial advisor. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which the securities are not qualified for sale.