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Callidus Capital completes US$252 Million IPO

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Callidus Capital Corporation

On April 23, 2014, Callidus Capital Corporation (Callidus) announced that it has successfully completed an initial public offering of 18,000,000 common shares for aggregate gross proceeds of $252 million. Callidus has also entered into a new loan financing and servicing agreement which provides for a revolving credit facility in an amount up to US$200 million. The offering was made through a syndicate of underwriters led by Canaccord Genuity Corp. and including CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., GMP Securities L.P., Desjardins Securities Inc., and Dundee Securities Ltd. The underwriters have also been granted an over-allotment option to purchase up to an additional 2,700,000 common shares from Callidus at a price of $14.00 per share which, if exercised in full, would increase the aggregate gross proceeds to Callidus pursuant to the offering to $289.8 million. Callidus is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Fasken Martineau advised Callidus with a team that included Jon Levin, Sean Stevens, Laura Fetter, Justine Connelly and Mitch Thaw.



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