Dye & Durham Announces Approximately $126 Million Bought Deal Offering of Common Shares

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

• Proceeds intended to be used for the repayment of debt
• Offering is in line with the Company's stated goal to delever the business

TORONTO, Jan. 17, 2024 /CNW/ - Dye & Durham Limited (the "Company" or "Dye & Durham") (TSX: DND) announced today that it has entered into an agreement with an underwriting syndicate led by Canaccord Genuity Corp. (the "Lead Underwriter" and collectively with the syndicate, the "Underwriters") to complete a new issue, on a bought deal basis, of an aggregate of 10,400,000 common shares at a purchase price of C$12.10 per common share for aggregate gross proceeds of approximately C$126 million (the "Offering").

The Company intends to use the net proceeds of the Offerings for the repayment of debt.

The Offering is consistent with the Company's previously stated goal to delever the business. Following closing of the Offering, the Company will have made significant progress towards its target of reducing its leverage ratio to less than four times total net debt to adjusted EBITDA .

Closing of the Offering is expected to occur on or about February 6, 2024, or such other date as may be agreed upon by the Company and the Underwriters, subject to customary closing conditions, including required approvals of the Toronto Stock Exchange.

The Company has also granted the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the Offering, to purchase up to an additional 15% of the aggregate common shares to be sold pursuant to the Offering.

No securities regulatory authority has either approved or disapproved the contents of this press release. The common shares have not been, and will not be, registered under the United States Securities Act, of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT DYE & DURHAM LIMITED

Dye & Durham Limited provides premiere practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions and enables the essential payments infrastructure trusted by government and financial institutions. The company has operations in Canada, the United Kingdom, Ireland, and Australia.

Additional information can be found at www.dyedurham.com.

FORWARD LOOKING INFORMATION

This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects Dye & Durham's current expectations regarding future events. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.

Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dye & Durham's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in Dye & Durham's most recent annual information form and the factors to be discussed under "Risk Factors" in the preliminary short form prospectus, when available. Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Dye & Durham Limited