Real Matters Inc., a technology provider for the mortgage lending and insurance industries, has filed for a proposed initial public offering (IPO) and secondary offering of its common shares. The number of common shares and price are to be determined.
The offering will be managed by a syndicate of underwriters, including BMO Capital Markets and INFOR Financial Inc. as lead underwriters and joint bookrunners for the offering. Wildeboer Dellelce LLP and Torys LLP act as legal counsel to Real Matters and the underwriters respectively.
The selling and principal shareholders are Altus Group Limited (13.8%) and EdgePoint Investment Group. Other shareholders include Whitecap Venture Partners, Radar Capital, and Urbana Corp.
Founded in 2004, Real Matters raised $59.98 million led by EdgePoint Investment (Real Matters announced the financing as a $100 million common equity financing) in February 2016, $30 million in May 2015 (announced as a $60 million financing), and $27.54 million (announced as a $40 million common equity financing) in December 2013.
On January 9, 2017, Real Matters issued 1,499,995 penalty shares pursuant to the liquidity penalty stipulated in the February 2016 investment agreement.
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