Fiera Manager acquires over 4 million shares of Green Impact Partners Inc. as part of a debt reduction deal approved by the court
Fiera Private Debt Inc. (Fiera Manager) has acquired 4,086,665 common shares of Green Impact Partners Inc. (GIP), representing approximately 19.0 percent of GIP's outstanding shares.
This transaction occurred under an order from the Court of King's Bench of Alberta, facilitating the distribution of shares to Fiera Private Debt Fund GP Inc. (Fiera Private Debt GP), the general partner of Fiera Private Debt Fund V LP (Fund V) and Fiera Private Debt Fund VI LP (Fund VI).
The court-appointed receiver and manager overseeing Wolverine Energy and Infrastructure Inc. and related entities facilitated this distribution as part of a debt reduction process for Fiera Private Debt GP.
On October 18, 2024, Fiera Manager, managing Fund V and Fund VI, acquired 271,721 common shares at a deemed value of $3.45 per share, totaling approximately $937,437.
Subsequently, on October 23, 2024, Fiera Manager acquired an additional 3,814,944 common shares at a deemed value of $3.48 per share, amounting to approximately $13,276,005.
Prior to these acquisitions, Fiera Manager did not control any GIP shares, and Fiera Private Debt GP held no shares on its own behalf or as a general partner of Fund V and Fund VI.
Post-acquisition, Fiera Manager holds 4,086,665 common shares, accounting for 19.0 percent of GIP's outstanding shares.
Fiera Manager stated that, in compliance with applicable law, it will continue to assess its holdings in GIP securities.
Future investment decisions will consider market conditions, economic and industry trends, and GIP's financial position and business prospects.
An Early Warning Report regarding these acquisitions will be available on SEDAR+ under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Fiera Private Debt has been actively involved in financing renewable energy projects.
In March 2024, Fiera Infrastructure Private Debt joined a US$200m financing solution to support Greenalia S.A., a Spanish developer of renewable power projects, in developing its solar and wind project pipeline in the US.
Additionally, in April 2022, Fiera Private Debt provided a $25m senior secured credit facility to BioNorth Holdings Limited Partnership for the acquisition and long-term operation of the Fort St. James Green Energy Project, a 40-megawatt biomass power generation facility in British Columbia.
