Westaim Proclaims Closing of Skyward Specialty’s Upsized Comply with-On Providing

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Not for Distribution to U.S. Newswire Companies or for Launch, Publication, Distribution or Dissemination Immediately, or Not directly, in Complete or in Half, in or Into the US

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TORONTO — The Westaim Company (“Westaim” or the “Firm”) (TSXV: WED) at present proclaims the closing of the beforehand introduced Skyward Specialty Insurance coverage Group, Inc.™ (NASDAQ: SKWD) (“Skyward Specialty”) upsized follow-on providing (the “Providing”) of its widespread inventory (the “Shares”). Below the Providing, Westaim offered 3,600,000 Shares (which included the train in stuffed with the underwriters’ over-allotment possibility) at a worth to the general public of US$30.50 per Share. The proceeds to the Firm, much less underwriting commissions of 4.5%, had been roughly US$104.9 million.

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Barclays, Keefe, Bruyette & Woods, Inc., a Stifel Firm, and Jefferies, acted as joint lead book-running managers for the Providing. Piper Sandler, JMP Securities, a Residents Firm, Truist Securities, Raymond James, BMO Capital Markets and Wolfe | Nomura Alliance acted as joint book-running managers for the Providing.

This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of the Shares in any state or jurisdiction by which such supply, solicitation, or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or jurisdiction.

About Westaim

Westaim is a Canadian funding firm specializing in offering long-term capital to companies working primarily throughout the world monetary providers business. The Firm invests, instantly and not directly, by means of acquisitions, joint ventures and different preparations, with the target of offering its shareholders with capital appreciation and actual wealth preservation. Westaim’s technique is to pursue funding alternatives with a spotlight in direction of the monetary providers business and develop shareholder worth over the long run. Westaim’s investments embrace vital pursuits in Skyward Specialty, Enviornment and Enviornment FINCOs. Skyward Specialty, Enviornment and Enviornment FINCOs are outlined within the notes to Westaim’s unaudited interim consolidated monetary statements for the three and 9 months ended September 30, 2023 and 2022 and the MD&A. Westaim’s widespread shares are listed on the TSX Enterprise Alternate (the “TSXV”) beneath the buying and selling image “WED”.

For extra data, contact:
J. Cameron MacDonald, President and Chief Government Officer or
Robert T. Kittel, Chief Working Officer
The Westaim Company
info@westaim.com
(416) 969-3333

Neither the TSXV nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the Alternate) accepts duty for the adequacy or accuracy of this launch.

View supply model on businesswire.com: https://www.businesswire.com/news/home/20231120047286/en/

Contacts

J. Cameron MacDonald, President and Chief Government Officer or Robert T. Kittel, Chief Working Officer
The Westaim Company
info@westaim.com
(416) 969-3333

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