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Latham & Watkins Advised Akumin in Offering of Senior Secured Notes

September 3, 2021
A capital markets deal team advised on the offering that funded Akumin’s acquisition of Alliance Healthcare.

Akumin Inc. (NASDAQ/TSX: AKU) announced in July that Akumin Escrow Inc., a wholly owned subsidiary of the Issuer that was liquidated into the Issuer, priced a private offering (Private Offering) of US$375 million aggregate principal amount of 7.5% senior secured notes due 2028. The net proceeds from the Private Offering were used to fund the cash portion of the purchase price for the acquisition of Alliance Healthcare Services, Inc. and its subsidiaries, which funded and closed on September 1, 2021.

Latham & Watkins LLP represented Akumin Inc. in the offering with a capital markets deal team led by New York partners Ian Schuman and Erika Weinberg, with associates Kaj Nielsen, Will Clark, and Patrick Maguire. Advice was also provide on finance matters by New York partners Michele Penzer and Abhay Lele, with associate Tulika Sinha.