11:22 AM EDT, 06/11/2025 (MT Newswires) -- Definity Financial ( DFYFF ) up 2.6% on last look, on Wednesday said it completed its private placement of shares, raising $385 million.

The company issued 4.63-million shares at $66.65 each for $309 million. Furthermore, Healthcare of Ontario Pension Plan Trust Fund (HOOPP) exercised its pre-emptive right and purchased, on a private placement basis, 1.15-million shares at the same price, for additional proceeds of $76.7 million.

Proceeds from the two placements will be used to fund the acquisition of the Canadian operations of Travelers, other than Travelers' Canadian surety business, for $3.3 billion.

The company's shares were last seen up $1.90 to $75.50 on the Toronto Stock Exchange.

Price: 75.33, Change: +1.73, Percent Change: +2.35