On October 24, 2017, Stingray, a world-leading provider of multiplatform music services and digital experiences, announced the completion of a bought deal offering of an aggregate of 4,348,000 subordinate voting shares and variable subordinate voting shares at a price of $9.20 per share for gross proceeds of $40,001,600. Following the partial exercise of the underwriters’ over-allotment option in November 2017, an additional 552,200 subordinate voting shares and variable subordinate voting shares of Stingray were issued at a price of $9.20 per share, for total gross proceeds of $5,080,240.
Fasken advised the syndicate of underwriters in Stingray’s bought deal offering, co-led by National Bank Financial Inc. and GMP Securities L.P., and comprised of BMO Nesbitt Burns Inc., TD Securities Inc., CIBC World Markets Inc. and Desjardins Securities Inc. The team was led by Jean-Pierre Chamberland and included Caitlin Rose, Marie-Christine Valois, Dan Su, Émilie Marceau (Securities), Stephen Whitehead, Yael Wexler (CRTC Regulatory), Jean-Philippe Mikus, Emil Vanjaka (IP), and Claude E. Jodoin (Tax).
