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Nuvei Corporation Completed US$833 Million Initial Public Offering and Concurrent Private Placement

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Nuvei Corporation

On September 22, 2020, Nuvei Corporation completed its initial public offering of subordinate voting shares consisting of a treasury offering by Nuvei and a secondary offering by certain funds managed by Novacap Management Inc. at a price of US$26.00 per share, for aggregate gross proceeds of US$805 million, with Nuvei and the Novacap receiving gross proceeds of US$730 million and US$75 million, respectively. The treasury offering includes the exercise in full by the underwriters of their over-allotment option.

The offering was made through a syndicate of underwriters led by Goldman Sachs Canada Inc., Credit Suisse Securities (Canada), Inc., BMO Capital Markets and RBC Capital Markets, as joint active bookrunners, and Citigroup Global Markets Canada Inc. and Merrill Lynch Canada Inc., as bookrunners, and National Bank Financial Inc., Scotiabank, TD Securities Inc., CIBC Capital Markets, Raymond James Ltd., Cowen and Company, LLC, Stifel Nicolaus Canada Inc. and William Blair & Company, L.L.C.

Concurrently with the closing of its initial public offering, Nuvei closed a direct private placement of subordinate voting shares to certain employees, customers, suppliers and other business partners worldwide for aggregate gross proceeds of US$28.4 million.

The transaction represents the largest technology IPO in TSX history, by both equity capital raised and market capitalization at the time of listing, in TSX history. Nuvei is a global provider of payment technology solutions to merchants and partners in North America, Europe, Asia Pacific and Latin America.

Fasken acted as counsel to Nuvei with a team comprised of Caitlin Rose, Jean Michel Lapierre, Guillaume Saliah, Matthew Quadrini, Alexandra Lazar, Marie-Christine Valois, Alexandra Freedman, Paul Khoury, Gemma Caprio, Alain Ranger, Michel Boislard, Nicolas Faucher, Neil Kravitz, Elise Renaud, Carolina Fusco, Andrea Kruyne and Ursula Romatowska.