- Quisitive (QUIS) has closed its C$40 million bought-deal public offering
- It will use the proceeds to fund its proposed acquisition of Catapult Systems
- The acquisition, expected to close this week, would bring Quisitive’s run-rate revenue to over US$160 million
- Quisitive harnesses Microsoft’s platform and technologies to generate transformational impact for enterprise customers
- Quisitive (QUIS) is down by 1.77 per cent and is currently trading at $1.11 per share
Quisitive (QUIS) has closed its C$40 million bought-deal public offering.
The company sold 33,340,000 common shares at a price of C$1.20 per share.
It will use the proceeds to fund its proposed acquisition of Catapult Systems, an Austin, Texas-based Microsoft-focused digital solutions and services provider.
The acquisition would bring together two of the largest Microsoft-exclusive technology partners and bring Quisitive’s run-rate revenue to over US$160 million.
The proposed US$51.5 million cash transaction is expected to close this week.
The public offering was led by Scotiabank, Canaccord Genuity and Eight Capital and included Desjardins Securities, Raymond James, Echelon Wealth Partners and Beacon Securities Limited.
Mike Reinhart, CEO of Quisitive, stated,
“We thank our syndicate for their diligent efforts and welcome our new shareholders. We are excited to further execute on our growth strategy and this injection of capital will enable the closing of the Catapult acquisition.”
Reinhart acquired 50,000 shares pursuant to the offering.
Quisitive harnesses Microsoft’s platform and technologies to generate transformational impact for enterprise customers.
Quisitive (QUIS) is down by 1.77 per cent and is currently trading at $1.11 per share as of 12:27 pm ET.
