- mdf commerce (MDF) has completed today its bought deal public offering and private placement for gross proceeds of $120.4 million
- 8,480,000 subscription receipts were issued at a price of $8.00 on a bought-deal public offering basis, for gross proceeds of $67.8 million
- mdf commerce also completed a private placement for aggregate gross proceeds of $52.6 million
- Net proceeds will be used to fund the acquisition of Periscope Intermediate Corp.
- mdf commerce provides a broad set of SaaS solutions that optimize and accelerate commercial interactions between buyers and sellers
- mdf commerce inc. (MDF) is up 1.92 per cent, trading at C$7.44 per share at 11:45 am ET
mdf commerce (MDF) has completed today its bought deal public offering and private placement for gross proceeds of $120.4 million.
The company issued 8,480,000 subscription receipts at a price of $8.00 on a bought-deal public offering basis, for gross proceeds of $67.8 million.
The offering was co-led by Scotiabank, as sole bookrunner, and Echelon Wealth Partners Inc., and including Acumen Capital Finance Partners Limited, Desjardins Securities Inc., Laurentian Bank Securities Inc. and National Bank Financial Inc.
mdf commerce has granted the underwriters an option to purchase up to 1,272,000 additional public subscription receipts at any time up to 30 days after the closing of the public offering, for additional gross proceeds of up to $10.2 million.
mdf commerce also completed a private placement of 3,587,667 and 2,989,722 subscription receipts with Fonds de solidarité FTQ and Investissement Québec for aggregate gross proceeds of $52.6 million.
The private subscription receipts are subject to a four-month hold pursuant to Canadian securities laws.
Each subscription receipt will entitle the holder to receive one common share of mdf commerce.
mdf commerce will use the net proceeds of the public offering and private placement to fund the acquisition of Periscope Intermediate Corp.
The gross proceeds from the Public Offering (less 50 per cent of the Underwriters’ fee) and from the Concurrent Private Placement will be held by Computershare Trust Company of Canada pending the completion of the acquisition.
mdf commerce provides a broad set of SaaS solutions that optimize and accelerate commercial interactions between buyers and sellers.
Periscope is a leading eProcurement solution provider with over 20 years of industry experience that offers a fully integrated, end-to-end procurement solution to both state and local government agencies and suppliers in the U.S.
mdf commerce inc. (MDF) is up 1.92 per cent, trading at C$7.44 per share at 11:45 am ET.
