IPO, RTO Deals
Sonder Holdings to effect 1-for-20 reverse stock split
Sonder Holdings to effect a 1-to-20 reverse stock split, effective as of the close of trading on September 20, 2023, in order to regain compliance with the minimum US $1.00 bid price per share requirement of Nasdaq’s Marketplace Rule.
Canaccord Genuity’s SPAC QA record
Canaccord Genuity G Ventures Corp. (NEO: CGGV.UN), the fourth SPAC sponsored by Canaccord Genuity, to close Qualifying Acquisition transaction with Mount Logan Capital
Asia focused SPAC Oak Woods prices US $50M IPO
Oak Woods Acquisition Corporation, a Nepean, Ontario based newly organized blank check company with focus on acquiring a target business in Asia including Peoples Republic of China, priced IPO of 5M units at $10 per unit and will commence trading on NASDAQ on March 24, 2023.
Lithium Royalty completes $150M IPO, first TSX IPO since June 2022
Lithium Royalty Corp. completed first TSX IPO in 2023, issuing 8.824M shares at $17 for $150M. Waratah Capital Advisors Ltd. and Riverstone Holdings received $50M in return of capital and will control 55.26% and 28.78% of 55,285,686 outstanding shares respectively.
Venture backed Borealis Foods to go public on NASDAQ by way SPAC QA
Reza Soltanzadeh and Barthelemy Helg led and Cibus Fund and Rocana Ventures backed Borealis Foods to go public on NASDAQ by way of qualifying acquisition by Almaty, Kazakhstan based Oxus Acquisition Corp. at US $150M valuation.
Lithium Royalty to raise $150M in TSX IPO, at $16-19 per share
Waratah Capital Advisors Ltd. and Riverstone Holdings LLC backed Lithium Royalty Corp. attentively priced $150M TSX IPO at $16-19 per share with a valuation of $942M at midpoint offering price of $17.50 per share.
Lithium Royalty files for IPO on TSX
Waratah Capital Advisors Ltd., Riverstone Holdings LLC, Altius Minerals Corporation backed Lithium Royalty Corp. filed for proposed initial public offering (IPO) on Toronto Stock Exchange (TSX).
NorthStar Gaming secures $12.25M additional RTO financing
NorthStar Gaming secured $12.25M strategic investment from Playtech plc, in connection with proposed RTO of Baden Resources, adding to $5M raised from Torstar and $5.075M raised from subscription receipt financing.
Tiny Capital to go public by way of RTO of WeCommerce
Andrew Wilkinson and Chris Sparling led Tiny Capital Ltd. to go public on TSX-V, valued at $691M, through combination (RTO) with WeCommerce Holdings Ltd. Wilkinson and Sparling will own 71% and 10%, respectively, of combined company valued at enterprise value of $962M.
Greenfire Resources to go public on NYSE at US $950M valuation
McIntyre Partners and Griffon Partners backed Greenfire Resources Inc. to go public on NYSE through a proposed qualifying acquisition by M3-Brigade Acquisition III Corp. (NYSE: MBSC), valuing Greenfire at US $950M.
Constellation to spin out Lumine in combination with US $490M WideOrbit acquisition
Constellation Software Inc. filed for the spinout Lumine Group Inc., to made of Lumine portfolio of companies of the Volaris Group and proposed acquisition of WideOrbit Inc. from Eric Mathewson and VC investors.
Hertz Lithium files for up to $2M CSE IPO
Hertz Lithium filed for up to $2M IPO on Canadian Securities Exchange (CSE). Canaccord Genuity Corp. acts agent for the offering. McMillan LLP and Miller Thomson LLP acted as legal counsel to Hertz and agent respectively.
SaskWorks backed Chronos Resources to go public by way of RTO of Samoth Oilfield
SaskWorks Venture Fund Inc. backed Chronos Resources Ltd. to list on TSX Venture through RTO of Samoth Oilfield Inc. and completing of up to $65M financing.
Riverstone to list Hammerhead Resources on NASDAQ via US $882M SPAC QA
Riverstone Holdings LLC to list Hammerhead Resources Inc. on NASDAQ through SPAC AQA by affiliated Decarbonization Plus Acquisition Corporation IV, valuing Hammerhead at US $882M. CEO Scott Sobie will continue to lead the combined company.
Sterling Partners promoted SP Strategic Acquisition files for $500K CPC IPO
Sterling Partners promoted SP Strategic Acquisition Corp., a Capital Pool Company, filed $500,000 IPO. Eight Capital acts as offering agent. Cassels Brock & Blackwell LLP is acting as legal counsel for SP while Blake, Cassels & Graydon LLP is acting on behalf of the agent.
LEAA files for $5M IPO on CSE
LEAA Health Technologies Corp., to be led by LEAA founders CEO Isaak N. Yakubov and COO Eli Lestat Ofel, filed for up to $5M initial public offering on the Canadian Securities Exchange (CSE).
House of Lithium going public transaction terminated
SOL Global Investments majority owned House of Lithium Ltd. and Rio Verde Industries Inc. terminated their preciously announced RTO transaction.
Bruush Oral Care files for NASDAQ IPO
Aneil Manhas founded Bruush Oral Care Inc. filed for IPO on NASDAQ with terms to be determined. Lucosky Brookman LLP and Kaufman & Canoles, P.C. act as legal counsels.
