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DIRTT Announces C$35 Million Convertible Debenture Bought Deal Financing

Vinson & Elkins advised DIRTT Environmental Solutions Ltd, an interior construction company that uses proprietary software to design, manufacture and install fully customizable environments, in its C$35 million Canadian-style bought-deal underwriting of 6.00% convertible unsecured subordinated debentures with a syndicate of underwriters led by National Bank Financial Inc.  The offering priced on January 7, 2021, and is expected to close on January 25, 2021.

The offering for this Canadian company that is listed on TSX and Nasdaq was made pursuant to a prospectus supplement and base prospectus under a U.S. Registration Statement on Form S-3 and a Canadian short-form prospectus.

The V&E corporate team was led by partner Robert Kimball with assistance from partner Shelley Barber, senior associate Lucy Liu and associates Grace-Ann Duquette and Claire Wenholz. Advising on tax matters were partner Wendy Salinas and associate Liz Snyder.

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