Canaccord Genuity (TSE:CF) has released an update.
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Canaccord Genuity Group Inc. has announced a private placement issuing $110 million worth of convertible debentures to raise funds for a long-term employee ownership plan and to support company growth. The debentures, with a 7.75% interest rate and a five-year maturity, will finance a loan for employees to acquire a 9.7% stake in the company. This strategic move aims to align the interests of employees with shareholders and fuel Canaccord’s next growth phase while maintaining its compensation ratios.
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