Hammond Power Solutions

Canaccord Genuity Acts as Joint-Lead Bookrunner to Hammond Power Solutions on its C$66 Million Bought Deal Secondary Offering of Class A Subordinate Voting Shares

Canaccord Genuity is pleased to announce that on September 27, 2024, its client, Hammond Power Solutions Inc. ("Hammond" or the "Company") (TSX: HPS.A) announced it successfully completed a bought deal secondary offering of 500,000 Class A Subordinate Voting Shares at C$131.00 per share for aggregate gross proceeds of C$66 million (the “Offering”). This included 65,210 shares sold pursuant to the exercise in full of the over-allotment option. Canaccord Genuity acted as joint-lead bookrunner and co-lead underwriter in connection with the Offering.

Started in 1917, Hammond enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. Hammond is the North American market leader in dry-type transformer manufacturing and their standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in Canada, the United States, Mexico and India and sells its products around the globe.