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MDF MDF Commerce Inc

5.80
0.00 (0.00%)
01 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
MDF Commerce Inc TSX:MDF Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 5.80 5.77 5.80 0 00:00:00

mdf commerce Announces Closing of Bought Deal Public Offering

06/11/2020 2:38pm

PR Newswire (Canada)


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/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

MONTRÉAL, Nov. 6, 2020 /CNW Telbec/ - mdf commerce inc. ("mdf commerce" or the "Corporation") (TSX: MDF), a leader in SaaS commerce technology solutions, announced today the closing of the previously announced public offering of an aggregate of 4,780,550 common shares at a purchase price of $10.00 per common share for aggregate gross proceeds to mdf commerce of $47,805,500, which includes the exercise in full by the underwriters of their over-allotment option to purchase up to 623,550 additional common shares (the "Offering").

Stifel GMP acted as sole bookrunner and, collectively with Desjardins Capital Markets and Echelon Wealth Partners Inc., as co-lead underwriters for the Offering, with a syndicate of underwriters also comprised of Laurentian Bank Securities Inc., National Bank Financial Inc. and Scotia Capital Inc.

Certain insiders of the Corporation participated in the Offering and purchased an aggregate of 33,000 common shares. Participation of insiders of the Corporation in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Corporation's market capitalization. The Corporation did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the insiders of the Corporation had not been confirmed at that time.

About mdf commerce inc.

mdf commerce inc. (TSX:MDF), formerly known as Mediagrif Interactive Technologies Inc., enables the flow of commerce by providing a broad set of SaaS solutions that optimize and accelerate commercial interactions between buyers and sellers. Our platforms and services empower businesses around the world, allowing them to generate billions of dollars in transactions on an annual basis. Our strategic sourcing, unified commerce and emarketplace platforms are supported by a strong and dedicated team of more than 600 employees based in Canada, the United States, Denmark, Ukraine and China. For more information, please visit us at mdfcommerce.com, follow us on LinkedIn or call at 1–877-677-9088.

SOURCE mdf commerce inc.

Copyright 2020 Canada NewsWire

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