Goodfood Market Corp’s C30 Million Convertible Debentures Offering

Fasken Martineau DuMoulin LLP advised Goodfood on the offering.

On February 11, 2022, Goodfood Market Corp. closed its public offering of C$30 million aggregate principal amount of 5.75% convertible unsecured subordinated debentures due March 31, 2027. 

The net proceeds from the convertible debenture financing will be used to accelerate the scaling of Goodfood’s on-demand grocery and meal solutions network, through the signing of multiple incremental new micro-fulfillment centers leases, fund their required capital expenditures as well as their initial start-up and expenses, and for general corporate purposes.

The offering was completed through a syndicate of underwriters, co-led by Desjardins Capital Markets and National Bank Financial Inc. and including CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Raymond James Ltd., Stifel Nicolaus Canada Inc., Canaccord Genuity Corp. and Acumen Capital Finance Partners Limited.

Goodfood Market Corp. (TSE:FOOD) is a Canadian online grocery, home meal and meal kit company, based in Montreal, Quebec. 

The Fasken team consisted of Neil Kravitz (Picture), Caitlin Rose, Matthew Quadrini, Alexandra Freedman, Nancy Xiaoyu Liu and Tristan Lalumière-Roberge (student).

Involved fees earner: Alexandra Freedman – Fasken Martineau; Neil Kravitz – Fasken Martineau; Nancy Xiaoyu Liu – Fasken Martineau; Matthew Quadrini – Fasken Martineau; Caitlin Rose – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: Goodfood Market Corp.;

Sonia Carcano

Author: Sonia Carcano