Harvest Portfolios Group Inc. Completes $9.3 million Overnight Offering for Big Pharma Split Corp.
TORONTO, March 04, 2021 (GLOBE NEWSWIRE) -- Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce that Big Pharma Split Corp. (the “Company”) has completed the overnight offering of Preferred Shares and Class A Shares of the Company. Total gross proceeds of the offering were $9.3 million, bringing the Company’s net assets to approximately $30.5 million.
The shares will trade on the Toronto Stock Exchange under the existing symbols of PRM.PR.A (Preferred Shares) and PRM (Class A Shares).
The Preferred Shares were offered at a price of $10.50 per Preferred Share to yield 4.8% and the Class A Shares were offered at a price of $13.75 per Class A Share to yield 9.0%.
The offering was co-led by BMO Capital Markets, CIBC World Markets Inc. and Scotia Capital Inc., and also included National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Hampton Securities Limited, Raymond James Ltd., Richardson Wealth Limited, Desjardins Securities Inc., Echelon Wealth Partners Inc., iA Private Wealth Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.
The net proceeds of the offering will be used to invest in an equally-weighted portfolio of ten issuers comprised of equity securities selected by Harvest from a universe of pharmaceutical issuers which includes:
Eli Lilly and Company | Johnson & Johnson | Amgen Inc. | Novartis AG | Pfizer Inc.
AstraZeneca PLC | Sanofi SA | Merck & Co Inc. | Bristol-Myers Squibb Company | AbbVie Inc.
In order to seek to generate additional returns, Harvest may write call options each month in respect of some or all of the equity securities in the portfolio.
Harvest is the manager, portfolio manager and promoter of the Company.
For additional information: Please visit , e-mail or call toll free 1-866-998-8298.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is a Canadian Investment Fund Manager managing over $1.25 billion in assets for Canadian Investors. Harvest offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured fund products designed to satisfy the long-term growth and income needs of investors. We pride ourselves in creating trusted investment solutions that meet the expectations of our investors.
Commissions, management fees and expenses all may be associated with investment fund investments. Investors should read the prospectus supplement to the Company’s short form base shelf prospectus dated November 4, 2020 before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company’s publicly filed documents which are available at
