Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, June 11, 2021

Article Excerpt

DENTALCORP HOLDINGS LTD., $14.38, symbol DNTL on Toronto, is Canada’s largest dental practice network. The company currently has 412 practices nationwide (434 including pending acquisitions). The network includes over 1,300 dentists, over 1,600 hygienists and over 4,000 auxiliary dental health professionals. Currently 1.5 million patients visit its practices 3.6 million times annually (4 million including pending acquisitions). The majority of the clinics are in Ontario and Alberta. Dentalcorp was founded in 2011 and has grown steadily over the past decade, sometimes acquiring up to 60 dental practices a year. That process, however, involved taking on large amounts of debt. Right now, the company has around $1.7 billion in debt. To raise funds to help pay down that debt—as well as for expansion—on May 27, 2021, Dentalcorp launched its IPO and began trading on the Toronto exchange. The company sold 50 million subordinate voting shares at $14 apiece for proceeds of $700 million. At the same time, it closed a private placement of…

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