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  • Coveo Solutions (CVO) has closed its initial public offering for gross proceeds of C$215 million
  • The company issued 14,340,000 subordinate voting shares at a price of C$15.00 per share
  • Coveo has also closed a direct private placement of 129,996 subordinate voting shares
  • Coveo’s SaaS-native, multi-tenant platform injects search, recommendations, and personalization solutions into digital experiences
  • Coveo Solutions Inc. subordinate voting shares (TSX:CVO) are up 0.664 per cent on the day, trading at $15.16 per share at 10:20 am EST

Coveo Solutions (CVO) has closed its initial public offering for gross proceeds of C$215 million.

The company issued 14,340,000 subordinate voting shares at a price of C$15.00 per share.

The subordinate voting shares began trading on the TSX on November 18 under the symbol CVO.

The offering was made through a syndicate of underwriters led by BMO Capital Markets, BofA Securities, RBC Capital Markets and UBS Investment Bank.

The company has granted to the underwriters an over-allotment option to purchase up to an additional 2,151,000 subordinate voting shares. If the option is exercised in full, the gross proceeds of the offering will be C$247,365,000. 

Coveo has also closed a direct private placement of 129,996 subordinate voting shares to certain customers, suppliers and other business partners residing outside Canada on the same terms as the offering.

Coveo is an AI-powered relevance platform. Coveo’s SaaS-native, multi-tenant platform injects search, recommendations, and personalization solutions into digital experiences.

Coveo Solutions Inc. subordinate voting shares (TSX:CVO) are up 0.664 per cent on the day, trading at $15.16 per share at 10:20 am EST.

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