ECN Capital and Skyline Champion Announce Closing of Skyline Champion's C$185 Million Strategic Investment in ECN Capital and Establishment of New Captive Finance Company
TORONTO and TROY, Mich., Sept. 26, 2023 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX:ECN) ("ECN Capital") and Skyline Champion Corporation (NYSE:SKY) ("Skyline Champion") are pleased to announce that they have closed the previously announced transaction pursuant to which Champion Canada Holdings Inc., a wholly-owned subsidiary of Skyline Champion, has made an approximately C$185 million (US$138 million) equity investment in ECN Capital on a private placement basis (the "Private Placement") in exchange for 33,550,000 common shares of ECN Capital (the "Common Shares") and 27,450,000 mandatory convertible preferred shares, Series E of ECN Capital ("Convertible Preferred Shares"), in each case a
