On April 3, 2000, MDS Inc. and MDS Proteomics Inc. announced the closing of one of the largest equity offerings of a private company in Canada. MDS Proteomics Inc. raised gross proceeds of $82.5 million pursuant to a private placement of special warrants to investors in Canada, the United States and elsewhere and valued the company at approximately $600 million. Canaccord Capital Corporation, HSBC Securities Canada, and Yorkton Securities acted as underwriters on the placement.
Fasken Martineau acted for MDS Inc. and MDS Proteomics, with a team comprised of Richard Steinberg, Michael Robinson, Q.C., John Turner and Jennifer Mazin, with Douglas Cannon providing tax advice.