Akumin Proposes Offering of Senior Secured Notes

10/20/20

Akumin Inc. (NASDAQ: AKU) (TSX: AKU) announced today that it plans to offer, subject to market and other conditions, senior secured notes in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended.

The Issuer intends to use the net proceeds from the offering to repay in full all outstanding borrowings and terminate all commitments under its existing revolving credit facility and its existing term loans and to pay related financing fees and expenses.

The notes will be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by each wholly owned restricted subsidiary of the Issuer, including professional service affiliates of the Issuer and the guarantors.

The notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and in offshore transactions in reliance on Regulation S under the Securities Act. The notes and related guarantees will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes, the guarantees or any other securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

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