11/19/2021 | Press release | Distributed by Public on 11/19/2021 05:05
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Price: US$• per Offered Share
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Price to the
Public in Canada(1) |
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Underwriter's
Discounts and Commissions(1) |
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Net Proceeds to
the Selling Shareholders(2) |
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Per Offered Share
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US$•
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US$•
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US$•
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Total Offering
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US$•
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US$•
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US$•
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-1 | | |
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U.S. REGISTRATION STATEMENT
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| | | | S-1 | | |
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DOCUMENTS INCORPORATED BY REFERENCE
|
| | | | S-1 | | |
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS |
| | | | S-3 | | |
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CURRENCY PRESENTATION AND
EXCHANGE RATE INFORMATION |
| | | | S-4 | | |
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WHERE YOU CAN FIND MORE INFORMATION
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| | | | S-4 | | |
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TRADEMARKS AND TRADE NAMES
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| | | | S-4 | | |
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GFL ENVIRONMENTAL INC.
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| | | | S-4 | | |
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SELLING SHAREHOLDERS
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| | | | S-5 | | |
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USE OF PROCEEDS
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| | | | S-6 | | |
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DESCRIPTION OF THE SHARE CAPITAL OF THE COMPANY
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| | | | S-6 | | |
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CONSOLIDATED CAPITALIZATION
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| | | | S-6 | | |
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DIVIDEND POLICY
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| | | | S-6 | | |
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PRIOR SALES
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| | | | S-7 | | |
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TRADING PRICES AND VOLUME
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| | | | S-7 | | |
| UNDERWRITING | | | | | S-9 | | |
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ELIGIBILITY FOR INVESTMENT
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| | | | S-14 | | |
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MATERIAL CANADIAN FEDERAL INCOME TAX CONSIDERATIONS
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| | | | S-15 | | |
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MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS
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| | | | S-18 | | |
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RISK FACTORS
|
| | | | S-21 | | |
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ENFORCEMENT OF JUDGMENTS AGAINST FOREIGN PERSONS
|
| | | | S-22 | | |
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LEGAL MATTERS
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| | | | S-22 | | |
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AUDITORS, REGISTRAR AND TRANSFER AGENT
|
| | | | S-22 | | |
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ABOUT THIS SHORT FORM BASE SHELF PROSPECTUS
|
| | | | 1 | | |
|
DOCUMENTS INCORPORATED BY REFERENCE
|
| | | | 2 | | |
|
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
|
| | | | 3 | | |
|
ENFORCEABILITY OF CIVIL LIABILITIES
|
| | | | 4 | | |
|
CURRENCY PRESENTATION AND EXCHANGE RATE INFORMATION
|
| | | | 5 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 5 | | |
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TRADEMARKS AND TRADE NAMES
|
| | | | 5 | | |
|
GFL ENVIRONMENTAL INC.
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| | | | 5 | | |
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THE SELLING SECURITYHOLDERS
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| | | | 6 | | |
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USE OF PROCEEDS
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| | | | 6 | | |
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DESCRIPTION OF THE SHARE CAPITAL OF THE COMPANY
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| | | | 6 | | |
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DESCRIPTION OF DEBT SECURITIES
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| | | | 11 | | |
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DESCRIPTION OF WARRANTS
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| | | | 12 | | |
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DESCRIPTION OF SHARE PURCHASE CONTRACTS
|
| | | | 13 | | |
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DESCRIPTION OF SUBSCRIPTION RECEIPTS
|
| | | | 14 | | |
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DESCRIPTION OF UNITS
|
| | | | 15 | | |
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CONSOLIDATED CAPITALIZATION
|
| | | | 16 | | |
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EARNINGS COVERAGE RATIOS
|
| | | | 16 | | |
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PRIOR SALES
|
| | | | 16 | | |
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TRADING PRICE AND VOLUME
|
| | | | 16 | | |
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PLAN OF DISTRIBUTION
|
| | | | 16 | | |
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MATERIAL CANADIAN FEDERAL INCOME TAX CONSIDERATIONS
|
| | | | 17 | | |
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MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR U.S. RESIDENTS
|
| | | | 18 | | |
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RISK FACTORS
|
| | | | 18 | | |
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LEGAL MATTERS
|
| | | | 18 | | |
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AUDITORS, REGISTRAR AND TRANSFER AGENT
|
| | | | 18 | | |
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DOCUMENTS FILED AS PART OF THE
REGISTRATION STATEMENT |
| | | | 19 | | |
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ENFORCEMENT OF JUDGMENTS AGAINST FOREIGN PERSONS
|
| | | | 19 | | |
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EXEMPTIONS FROM CERTAIN DISCLOSURE REQUIREMENTS
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| | | | 19 | | |
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Nine Months ended September 30
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Year Ended December 31
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2021
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2020
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2020
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2019
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Highest rate during the period
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| | | C$ | 1.2856 | | | | | C$ | 1.4496 | | | | | C$ | 1.4496 | | | | | C$ | 1.3600 | | |
Lowest rate during the period . . . . . . . . . . . . . . .
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| | | C$ | 1.2040 | | | | | C$ | 1.2970 | | | | | C$ | 1.2718 | | | | | C$ | 1.2988 | | |
Average for the period(1)
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| | | C$ | 1.2513 | | | | | C$ | 1.3541 | | | | | C$ | 1.3415 | | | | | C$ | 1.3269 | | |
Period end
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| | | C$ | 1.2741 | | | | | C$ | 1.3339 | | | | | C$ | 1.2732 | | | | | C$ | 1.2988 | | |
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Immediately
Prior to the Closing |
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Number of
Subordinate Voting Shares to be Sold in the Offering |
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Immediately Following the Closing
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Name
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Number of
Subordinate Voting Shares Owned |
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Number of
Subordinate Voting Shares Owned |
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Percentage of
Outstanding Voting Shares |
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Percentage of
Total Voting Rights |
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BC Partners(1)
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| | | | 119,218,420 (4) | | | | | | 7,628,012 | | | | | | 111,590,408 | | | | | | 34.5% | | | | | | 23.6%(7) | | |
Ontario Teachers(2)
|
| | | | 46,645,408 (5) | | | | | | 2,984,536 | | | | | | 43,660,872 | | | | | | 13.5% | | | | | | 9.2%(8) | | |
Cayman Borrower II(3)
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| | | | 28,015,264 (6) | | | | | | 1,792,515 | | | | | | 26,222,749 | | | | | | 8.1% | | | | | | 5.5%(9) | | |
Poole Capital
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| | | | 10,892,942 | | | | | | 253,165 | | | | | | 10,639,777 | | | | | | 3.3% | | | | | | 2.2%(10) | | |
Date of issuance
|
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Type of Security
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Number of
Securities Issued |
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Issuance/
Exercise Price perSecurity |
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November 17, 2020 to November 17, 2021
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| | Deferred Share Units ("DSUs")(1) | | | | | 20,206(2) | | | |
-
|
|
November 17, 2020 to November 17, 2021
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| | Restricted Share Units ("RSUs")(3) | | | | | 901,967 | | | |
-
|
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November 17, 2020 to November 17, 2021
|
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Issuance of Subordinate Voting Shares(4)
|
| | | | 401,272 | | | |
-
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November 17, 2020 to November 17, 2021
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Issuance of Subordinate Voting Shares(5)
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| | | | 7,097,788 | | | |
-
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March 31, 2021
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Issuance of Subordinate Voting Shares(6)
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| | | | 46,966 | | | |
US$33.86
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June 2, 2021
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Issuance of Subordinate Voting Shares(7)
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| | | | 1,000,000 | | | |
-
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August 3, 2021
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Issuance of Subordinate Voting Shares(8
|
| | | | 829,453 | | | |
US$33.15
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November 15, 2021
|
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Issuance of Subordinate Voting Shares(9)
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| | | | 150,000 | | | |
-
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November 16, 2021
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Issuance of Subordinate Voting Shares(10)
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| | | | 250,000 | | | |
-
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November 17, 2021
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Issuance of Subordinate Voting Shares(11)
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| | | | 100,000 | | | |
-
|
|
| | |
Price Per Subordinate Voting Share
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Aggregate Monthly
Trading Volume |
| ||||||||||||
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High (US$)
|
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Low (US$)
|
| ||||||||||||
Month | | | | | |||||||||||||||
November 2020
|
| | | | 28.60 | | | | | | 19.21 | | | | | | 30,527,280 | | |
December 2020
|
| | | | 29.24 | | | | | | 26.50 | | | | | | 21,915,500 | | |
January 2021
|
| | | | 32.25 | | | | | | 27.77 | | | | | | 14,080,850 | | |
February 2021
|
| | | | 31.88 | | | | | | 26.79 | | | | | | 14,592,150 | | |
March 2021
|
| | | | 35.43 | | | | | | 30.04 | | | | | | 20,631,400 | | |
April 2021
|
| | | | 36.70 | | | | | | 31.96 | | | | | | 21,000,550 | | |
May 2021
|
| | | | 33.55 | | | | | | 29.94 | | | | | | 18,330,200 | | |
June 2021
|
| | | | 33.79 | | | | | | 30.56 | | | | | | 20,149,870 | | |
July 2021
|
| | | | 34.94 | | | | | | 30.38 | | | | | | 21,777,350 | | |
August 2021
|
| | | | 36.00 | | | | | | 32.58 | | | | | | 17,747,840 | | |
September 2021
|
| | | | 38.16 | | | | | | 34.52 | | | | | | 25,049,170 | | |
October 2021
|
| | | | 41.87 | | | | | | 36.42 | | | | | | 20,451,940 | | |
November 2021 (through November 17, 2021)
|
| |
43.71
|
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38.25
|
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16,958,019
|
|
| | |
Price Per Subordinate Voting Share
|
| |
Aggregate Monthly
Trading Volume |
| ||||||||||||
| | |
High (C$)
|
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Low (C$)
|
| ||||||||||||
Month | | | | | |||||||||||||||
November 2020
|
| | | | 37.60 | | | | | | 25.56 | | | | | | 25,113,510 | | |
December 2020
|
| | | | 37.23 | | | | | | 34.09 | | | | | | 15,546,465 | | |
January 2021
|
| | | | 41.06 | | | | | | 35.49 | | | | | | 4,073,290 | | |
February 2021
|
| | | | 40.51 | | | | | | 35.28 | | | | | | 3,708,874 | | |
March 2021
|
| | | | 44.51 | | | | | | 38.11 | | | | | | 4,128,155 | | |
April 2021
|
| | | | 45.91 | | | | | | 40.10 | | | | | | 5,172,292 | | |
May 2021
|
| | | | 40.98 | | | | | | 36.15 | | | | | | 6,847,436 | | |
June 2021
|
| | | | 40.73 | | | | | | 38.02 | | | | | | 5,267,955 | | |
July 2021
|
| | | | 43.58 | | | | | | 38.61 | | | | | | 3,335,281 | | |
August 2021
|
| | | | 45.22 | | | | | | 41.74 | | | | | | 2,798,701 | | |
September 2021
|
| | | | 48.34 | | | | | | 43.55 | | | | | | 4,849,243 | | |
October 2021
|
| | | | 51.71 | | | | | | 45.82 | | | | | | 4,780,454 | | |
November 2021 (through November 17, 2021)
|
| |
54.01
|
| |
47.69
|
| | | | 3,668,745 | | |
|
New Issue and/or Secondary Offering
|
| |
April 20, 2021
|
|
| | |
Page
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| |||
ABOUT THIS SHORT FORM BASE SHELF PROSPECTUS
|
| | | | 1 | | |
DOCUMENTS INCORPORATED BY REFERENCE
|
| | | | 2 | | |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
|
| | | | 3 | | |
ENFORCEABILITY OF CIVIL LIABILITIES
|
| | | | 4 | | |
CURRENCY PRESENTATION AND EXCHANGE RATE INFORMATION
|
| | | | 5 | | |
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 5 | | |
TRADEMARKS AND TRADE NAMES
|
| | | | 5 | | |
GFL ENVIRONMENTAL INC.
|
| | | | 5 | | |
THE SELLING SECURITYHOLDERS
|
| | | | 6 | | |
USE OF PROCEEDS
|
| | | | 6 | | |
DESCRIPTION OF THE SHARE CAPITAL OF THE COMPANY
|
| | | | 6 | | |
DESCRIPTION OF DEBT SECURITIES
|
| | | | 11 | | |
DESCRIPTION OF WARRANTS
|
| | | | 12 | | |
DESCRIPTION OF SHARE PURCHASE
CONTRACTS |
| | | | 13 | | |
| | |
Page
|
| |||
DESCRIPTION OF SUBSCRIPTION RECEIPTS
|
| | | | 14 | | |
DESCRIPTION OF UNITS
|
| | | | 15 | | |
CONSOLIDATED CAPITALIZATION
|
| | | | 16 | | |
EARNINGS COVERAGE RATIOS
|
| | | | 16 | | |
PRIOR SALES
|
| | | | 16 | | |
TRADING PRICE AND VOLUME
|
| | | | 16 | | |
PLAN OF DISTRIBUTION
|
| | | | 16 | | |
MATERIAL CANADIAN FEDERAL INCOME TAX CONSIDERATIONS
|
| | | | 17 | | |
MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR U.S. RESIDENTS
|
| | | | 18 | | |
RISK FACTORS
|
| | | | 18 | | |
LEGAL MATTERS
|
| | | | 18 | | |
AUDITORS, REGISTRAR AND TRANSFER AGENT
|
| | | | 18 | | |
DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
|
| | | | 19 | | |
ENFORCEMENT OF JUDGMENTS AGAINST FOREIGN PERSONS
|
| | | | 19 | | |
EXEMPTIONS FROM CERTAIN DISCLOSURE REQUIREMENTS
|
| | | | 19 | | |