Novanta Inc. ("Novanta" or the "Company") announced today that it has entered into a securities purchase agreement for a private placement of the Company's common shares ("Common Shares") to institutional and other accredited investors that is expected to result in gross proceeds of approximately $300 million to the Company, before placement agent fees and offering expenses.
Pursuant to the terms of the securities purchase agreement, the investors agreed to purchase an aggregate of 2,142,857 Common Shares at a purchase price of $140.00 per share. The private placement is expected to close on or about June 11, 2026, subject to satisfaction of customary closing conditions.
The offer and sale of the foregoing Common Shares are being made in a transaction not involving a public offering and the Common Shares have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the securities purchase agreement, the Company and the investors also entered into a registration rights agreement pursuant to which the Company has agreed to register the resale of the Common Shares sold in the private placement.