Bank of Montreal Completes Offering of Common Shares including Full Exercise of Over-Allotment Option on Public Offering
Bank of Montreal (TSX:BMO)(NYSE:BMO) (the “Bank”) today announced that it has completed its previously announced issue and sale of common shares pursuant to a public offering and a concurrent private placement to investors at a price of C$118.60 per common share for gross proceeds totaling approximately C$2.6
As previously disclosed by the Bank, closing of the private placement to BNPP is conditional on the closing of the Bank’s previously announced acquisition of Bank of the West from BNPP, will occur no later than concurrently with the closing of the Bank of the West acquisition and is expected to result in additional gross proceeds to the Bank of approximately C$750
The common shares issued today are listed on the Toronto Stock Exchange and the New York Stock Exchange.
The common shares were offered for sale in the public offering in all of the provinces and territories of Canada by way of a Canadian prospectus supplement to the Bank’s Canadian short form base shelf prospectus dated March
Copies of the Canadian and U.S. prospectus supplements, the Canadian short form base shelf prospectus, and the registration statement on Form F-3, may be obtained upon request in Canada by contacting BMO Nesbitt Burns Inc., Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Cautionary statement regarding forward-looking information
Certain statements in this press release are forward-looking statements. All such statements are made pursuant to the "safe harbor" provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements in this press release may include, but are not limited to, statements with respect to the closing of the private placement with BNPP. Forward looking statements are typically identified by words such as “will”, “anticipated”, “intend” and “scheduled” or negative or grammatical variations thereof.
By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that our assumptions may not be correct, and that actual results may differ materially from such predictions, forecasts, conclusions or projections. We caution readers of this press release not to place undue reliance on our forward-looking statements, as a number of factors – many of which are beyond our control and the effects of which can be difficult to predict – could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: the possibility that the private placement with BNPP will not close when expected, or at all, because the acquisition of Bank of the West does not close when expected, or at all, because required regulatory approvals and other conditions to closing are not received or satisfied on a timely basis, or at all, and those other factors discussed in the “Risks That May Affect Future Results” section, and the sections related to credit and counterparty, market, insurance, liquidity and funding, operational non-financial, legal and regulatory, strategic, environmental and social, and reputation risk, in the “Enterprise-Wide Risk Management” section of BMO’s 2022 Annual Report, all of which outline certain key factors and risks that may affect our future results and our ability to anticipate and effectively manage risks arising from all of the foregoing factors. We caution that the foregoing list is not exhaustive of all possible factors. Other factors and risks could adversely affect our results. Investors and others should carefully consider these factors and risks, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.
We do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by
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