11:00 AM EDT, 06/19/2025 (MT Newswires) -- Canadian Life Companies Split Corp. ( CLSPF ) announced Thursday it has completed the overnight marketing of Preferred Shares (LFE.P.B) and Class A Shares (LFE.TO) of the company. Total gross proceeds of the offering are expected to be approximately $40.0 million.

A statement noted the sales period of the overnight offering has now ended; the offering is expected to close on or about June 26, 2025 and is subject to certain closing conditions including approval by the TSX.

It also noted the Preferred Shares were offered at a price of $10.55 each to yield 6.64% and the Class A Shares were offered at a price of $6.35 each to yield 18.90%. The closing price on the TSX of each of the Preferred Shares and Class A Shares on June 18, 2025 was $10.70 and $6.50, respectively.

The net proceeds of the offering will be used by the company to invest in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies as follows: Great-West Lifeco Inc. ( GWLIF ), Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation ( MFC ) and Sun Life Financial Inc. ( SLF )

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