Solium arranges $40-million bought deal offering
SOLIUM CAPITAL Inc. has entered into an agreement with a syndicate of underwriters, including National Bank Financial Inc. as sole bookrunner, and together with CIBC World Markets Inc., co-lead underwriter, pursuant to which the underwriters have agreed to purchase on a bought deal basis 3,903,000 common shares of the company at a price of $10.25 per share for gross proceeds of $40-million. The shares will be offered in all provinces of Canada pursuant to a short-form prospectus to be filed by Solium, as well as in the United States, under applicable registration statement exemptions and such other jurisdictions as may be agreed to by Solium on a private placement basis.
The company has granted the underwriters an overallotment option to purchase up to that number of additional shares equal to 15 per cent of the shares purchased pursuant to the offering, exercisable in whole or in part at any time up to 30 days after and including the closing date of the offering.
The company intends to use the net proceeds of the offering for working capital and general corporate purposes, as well as to provide further flexibility for future acquisitions, including potentially material acquisitions.
“Solium is currently the leading provider of SaaS [software as a service] software for the automation and management of equity-based incentive plans,” said Marcos Lopez, chief executive officer of Solium. “Our customer base includes a diverse group of over 3,000 private and public companies with employee participants in more than 100 countries. Today’s announcement is in line with our stated objective of accelerating our growth, including white-label partnerships and our continued focus on bringing solutions to companies at all stages of their life cycle. In addition, this provides us the ability to act quickly to complete further opportunistic acquisitions to strengthen our product portfolio for our customers. Our commitment to a robust global platform that can service our customers from start-up through IPO [initial public offering] and to maturity, with world-class service, is our differentiator and a key driver of our success.”
The offering is expected to close on or about Nov. 1, 2017, and is subject to the receipt of all necessary regulatory approvals, including, but not limited to, the approval of the Toronto Stock Exchange and subject to certain other conditions. About Solium Capital Inc. Solium Capital provides cloud-enabled services for global equity administration, financial reporting and compliance. From offices in the United States, Canada, the United Kingdom, Europe and Australia, its innovative software-as-a-service technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in more than 100 countries.
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Shawn Abbott, Michael Graeme Broadfoot, Laura Ann Cillis, Brian Norman Craig, Marcos A Lopez, Colleen Jill Moorehead, Thomas Pinaud Muir
(SUM) Shares: 50,802,975