Altus Group announces C $ 150 million bought deal financing



TORONTO, Sept. 14, 2021 (GLOBE NEWSWIRE) – Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of software, data solutions and consulting services independent to the global commercial real estate market. Real Estate, today announced that it has entered into an agreement with a syndicate of underwriters (the “Underwriters”) led by bookkeepers TD Securities Inc. and BMO Capital Markets, pursuant to which the underwriters have agreed to ” buy a bought deal 2,420,000 common shares shares in the capital of the Company (the “Common Shares”) at a price of $ 62.00 per Common Share (the “Offer Price”) for gross proceeds approximately $ 150 million (the “Offer”). The Company has granted the Underwriters an option, exercisable at the offer price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. . The placement is expected to close on or around October 4, 2021 and is subject to Altus Group obtaining all necessary regulatory approvals.

The Company intends to use the net proceeds of the Offering to fund the Company’s growth initiatives and for working capital and other general corporate purposes.

The Common Shares to be issued in connection with the Offering will be offered by way of a simplified prospectus in each of the provinces and territories of Canada and may be offered for sale in the United States to qualified institutional buyers (as defined in the Rule 144A under the United States Securities Act of 1933, as amended (the “1933 Act”) by private placement pursuant to an exemption from the registration requirements of the 1933 Act.

The securities offered have not been and will not be registered under the Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States by no registration or applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

About the Altus Group

Altus Group Limited is a leading provider of independent software, data solutions and advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Commercial Real Estate Consulting, reflect decades of experience, a range of expertise and technological capabilities. Our solutions enable clients to analyze, better understand and recognize the value of their real estate investments. Based in Canada, we have approximately 2,600 employees worldwide, with operations in North America, Europe and Asia-Pacific. Our clients include many of the world’s largest players in the commercial real estate industry. Altus Group pays a quarterly dividend of $ 0.15 per share and our shares trade on the Toronto Stock Exchange under the symbol AIF.

For more information, please visit


Camilla Bartosiewicz
Vice-President, Investor Relations
(416) 641 – 9773
[email protected]

Forward-looking information

Certain information contained in this press release may constitute “forward-looking information” within the meaning of applicable securities laws. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. In general, forward-looking information can be identified by the use of words such as “could”, “will”, “expect”, “believe”, “plan”, “Any forward-looking information contained in this release press releases are subject to this warning.

Forward-looking information includes, without limitation, information relating to the objectives, growth initiatives, strategies and intentions of the Altus Group, as well as future financial and operational performance and prospects, including the intention to achieve the proposed Offer and the expectations regarding the use of the proceeds of the Offer. Forward-looking information is not and cannot be a guarantee of future results or events. Forward-looking information is based, among other things, on opinions, assumptions, estimates and analyzes which, although considered reasonable by the Altus Group at the date on which the forward-looking information is provided, are inherently subject to risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by forward-looking information. Significant factors or assumptions that the Altus Group has identified and applied in drawing conclusions or making forecasts or projections set forth in the forward-looking information include, but are not limited to: the successful execution of its business strategies and growth initiatives; consistent and stable economic conditions or financial market conditions; consistent and stable legislation in the various countries in which Altus Group operates; no disruptive changes in the technological environment; the possibility of acquiring profitable businesses; successful business integration; and the continued availability of qualified professionals. Risks, uncertainties, contingencies and other factors that could cause actual results to differ materially from forward-looking information include, but are not limited to: the general state of the economy; the continuing impacts of the COVID-19 pandemic; competition in industry; ability to attract and retain professionals; integration of acquisitions; dependence on the oil and gas sector; dependence on the Canadian multi-residential market; customer concentration; risk of change; interest rate risk; the use of larger software transactions with longer and less predictable sales cycles; the success of new product launches; ability to react to technological changes and develop products in a timely manner; ability to maintain profitability and manage growth; volatility of income and cash flow; credit risk; the protection of intellectual property or the defense against claims of the intellectual property rights of others; weather situation; fixed price and unforeseen commitments; operational risks; fulfillment of obligations / maintenance of customer satisfaction; evaluation mandates; legislative and regulatory changes; the risk of future legal action; insurance limits; income tax issues; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; the unpredictability and volatility of the price of common shares; capital investment; and the issuance of additional common shares diluting the interests of existing shareholders, as well as those described in Altus Group’s public documents, including the most recent annual information form dated March 30, 2021, which are available on SEDAR at the address These risks, uncertainties, contingencies or other factors should be carefully considered and readers of this press release should not place undue reliance on forward-looking information. If one or more risks, uncertainties, contingencies or other factors materialize or if any factor or assumption turns out to be incorrect, actual results could differ materially from those expressed or implied in the forward-looking information. The timing and completion of the proposed Offer are subject to customary conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the proposed offering will occur, or that it will proceed according to the schedule or terms contemplated. The proposed Offer could be modified, restructured or terminated. The information contained in this press release, including such forward-looking information, is made as of the date of this press release and Altus Group assumes no obligation to update or revise any forward-looking information after the date of this press release. press or explain any material differences between subsequent actual events and any forward-looking information, except as required by applicable law. In addition, Altus Group assumes no obligation to comment on analyzes, expectations or statements made by third parties with respect to Altus Group, its financial or operating results, or its securities, or the proposed Offer. .

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