Canadian Life Companies Split Corp. Completes $40.0 Million Overnight Offering

Canadian Life Companies Split Corp. recently completed an overnight offering of Preferred Shares and Class A Shares, raising a total of $40.0 million in gross proceeds. This brings the company's net assets to approximately $217.9 million, further strengthening its financial position. The new shares will begin trading on the Toronto Stock Exchange under the symbols LFE.PR.B and LFE, respectively.

Key Takeaways:

• The overnight offering resulted in the sale of Preferred Shares at $10.55 each, yielding 6.64%, and Class A Shares at $6.35 each, yielding 18.90%.
• The offering was led by National Bank Financial Inc. and was used to invest in an actively managed portfolio of four publicly traded Canadian life insurance companies.
• The portfolio consists of Great-West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation, and Sun Life Financial Inc.
• Commissions, trailing commissions, management fees, and expenses may be associated with mutual fund investments, as stated in the prospectus supplement.
• The offering was completed on June 26, 2025, according to a Globe NewsWire press release.
• Investors should read the prospectus supplement to the company's short form base shelf prospectus dated May 1, 2024, before investing in the mutual funds.
• Mutual funds are not guaranteed and their values change frequently, as outlined in the prospectus.

Statistics:

• $40.0 million: Total gross proceeds from the overnight offering
• $217.9 million: Company's net assets after the offering
• 6.64%: Yield on Preferred Shares
• 18.90%: Yield on Class A Shares
• 4: Number of publicly traded Canadian life insurance companies invested in by the company

Sources:

• Globe News Wire, "Canadian Life Companies Split Corp. Completes Overnight Offering"
• Canadian Life Companies Split Corp. prospectus supplement, dated May 1, 2024
• SEDAR Plus, publicly filed documents of Canadian Life Companies Split Corp.