Savaria Corporation Completes $57.27 Million “Bought Deal” Financing of Common Shares


Laval, Quebec,May 4, 2018 – Savaria Corporation (“Savaria”) (TSX: SIS), one of North America’s leaders in the accessibility industry, is pleased to announce that it has completed its previously announced “bought deal” financing consisting of 3,450,000 common shares (the “Shares”) at a price of $16.60 per Share (the “Offering Price”), for gross proceeds to Savaria of $57,270,000 (the “Offering”), which included the full exercise of the over-allotment option granted to the underwriters of the Offering.

The Offering was completed by a syndicate of underwriters led by National Bank Financial Inc. and GMP Securities L.P. and included Cormark Securities Inc., Laurentian Bank Securities Inc., Desjardins Securities Inc., PI Financial Corp and TD Securities Inc.

The net proceeds of the Offering will be used to reduce indebtedness under Savaria’s revolving credit facility, with the balance to be used to provide further financial flexibility to fund growth initiatives and for general corporate and working capital purposes.

“We are very pleased with the success of this public financing which will provide further flexibility to finance Savaria’s growth in the years to come.  On behalf of Savaria, I would like to thank our investors for their continued support,” stated Mr. Marcel Bourassa, Savaria’s President and Chief Executive Officer.

The Shares were sold in Canada pursuant to a short form prospectus filed by Savaria, as well as in the United States under applicable registration statement exemptions.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The Shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

About Savaria

Savaria Corporation ( is one of North America’s leaders in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts, elevators for home and commercial use, as well as ceiling lifts. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, mattress overlays and foam pillows for the retail market and certain products for the industrial market. In addition, Savaria converts and adapts vehicles to be wheelchair accessible. Savaria records around 66% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 400 retailers in North America and employs some 800 people. Its plants are located in Laval and Magog (Quebec), Brampton, Beamsville and Toronto (Ontario), Greenville (South Carolina), Huizhou (China) and Brisbane (Australia).

Cautionary Notice Regarding Forward-Looking Statements

Certain information in this press release may constitute “forward-looking statements” regarding Savaria, including, without being limited thereto, understanding of the elements that might affect Savaria’s future, relating to its financial or operating performance, the costs and schedule of future acquisitions, supplementary capital expenditure requirements, legislative matters, and the expected use of the net proceeds of the Offering. Most frequently, but not invariably, forward-looking statements are identified by the use of such terms as “plan”, “expect”, “should”, “could”, “budget”, “expected”, “estimated”, “forecast”, “intend”, “anticipate”, “believe”, variants thereof (including negative variants) or statements that certain events, results or shares “could”, “should” or “will” occur or be achieved. Such statements involve known and unknown risks, uncertainties and other factors liable to cause Savaria’s actual results, performance or achievements to differ materially from those set forth in or underlying the forward-looking statements. Such factors notably include general, economic, competitive, political and social uncertainties. Although Savaria has attempted to identify the key elements liable to cause actual measures, events or results to differ from those described in the forward-looking statements, other factors could have an impact on the reality and produce unexpected results. The forward-looking statements contained herein are valid at the date of this press release. Savaria undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by law. As there can be no assurance that these forward-looking statements will prove accurate, actual future results and events could differ materially from those anticipated therein. Accordingly, readers are strongly advised not to unduly rely on these forward-looking statements.


For further information:

Hélène Bernier, CPA, CA
Vice-President, Finance
1-800-931-5655, ext. 248

Marcel Bourassa
President and Chief Executive Officer