Bento files for initial public offering and secondary offering

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By Ted Liu

Bento Inc. has filed a preliminary prospectus in connection with a proposed initial public offering and secondary offering of its subordinate voting shares by selling shareholders.

Bento intends to apply to list its subordinate voting shares on the Toronto Stock Exchange (TSX) under the symbol “BNTO”.

The selling shareholders are 2144052 Ontario Limited and 2530001 Ontario Limited, each of which is an entity controlled by Ken Valvur, Bento’s Executive Chairman, and 2530023 Ontario Limited, an entity controlled by Glenn Brown, President & CEO of Bento.

Valvur and Brown currently own all of the outstanding shares of Bento and will continue to own all multiple voting shares following the closing of the offering.

Scotia Capital Inc. and CIBC World Markets Inc. are acting as joint bookrunners for the offering.

Stikeman Elliott LLP and Blake, Cassels & Graydon LLP act as legal counsel to Bento and the underwriters respectively.

Founded in 1996, Markham, Ontario based Bento is a leading branded sushi producer operating in Canada and the U.S. with a multi-channel business model that includes QSRs, both co-located in its grocery store and institutional food service partner locations and standalone, and fresh packaged food.