WeCommerce Holdings Ltd. ("WeCommerce" or the "Company") issued a total of 2,810,000 class A common shares (the “Shares”), at a price of C$12.00 per Share, which included 310,000 Shares issued pursuant to the partial exercise of an over-allotment option, for gross proceeds of approximately C$33.7 million.
The Shares were offered on a bought deal basis by a syndicate of underwriters led by TD Securities Inc. and Canaccord Genuity Corp. (the “Lead Underwriters”) and Raymond James Ltd. and Stifel Nicolaus Canada Inc. (together with the Lead Underwriters, the “Underwriters”).
In connection with the Offering, the Company paid the Underwriters a cash fee of 6% of the aggregate gross proceeds raised from the Offering. The Company intends to use the net proceeds of the Offering for strategic acquisitions and for working capital and general corporate purposes.
The Offering was completed by way of short form prospectus filed in all provinces of Canada.
Fasken advised WeCommerce with a team led by Steve Saville and Shanlee von Vegesack and included Brandon Deans and David Blackstock (Corporate Finance & Securities).
- British Columbia