CPE News (11/05/2021) – Sharethrough Inc. has withdrawn its preliminary prospectus dated October 4, 2021 together with the amended preliminary prospectus dated October 21, 2021, postponing its proposed initial public offering (IPO) on the Toronto Stock Exchange (TSX).
On October 21, 2021, Sharethrough filed an amendment to its preliminary prospectus, proposing to issue between 3,947,369 and 5,000,000 common shares to be priced between $15 to $19 per share for gross proceeds of $75 million or $86.25 million if the over-allotment option is exercised in full. Sharethrough withdrew initially proposed secondary offering.
At $17 per share, Sharethrough would have been valued at up to $387 million.
Sharethrough is backed by Fonds de solidarité FTQ, Investissement Québec (IQ) and Export Development Canada. Fonds de solidarité and IQ, would be the only 10%+ security holders, owning 3,842,638 and 2,880,651 common shares respectively, upon completion of pre-IPO closing re-organization.
Sharethrough is one of the top global independent omnichannel ad exchanges. With its headquarters in Montréal, Sharethrough has offices across North America including San Francisco and New York City.
For the fiscal year ended on December 31, 2021 (Pro Forma), Sharethrough reported $48.16 million in total revenues, $1.06 million in operating loss, and $2.23 million in net loss. For the six months ended June 30, 2021, Sharethrough reported $27.21 million, $2.12 million and $1.83 million in total revenues, operating income and net income respectively. (all financial figures in US dollars)
As of June 30, 2021, Sharethrough had 134 employees, of whom 63 were in the United States and 71 in Canada.
When speaking about the future of the company, Louis-Charles Genest, Chief Financial Officer said: “Sharethrough is a hyper-growth company, generating free cash flow and positive EBITDA. We are in a solid financial position and we will continue to manage our organization successfully to fulfill our vision with our strong profitable platform”.
photo credit: Sharethrough
Sharethrough Inc. Announces Postponement of Initial Public Offering Process
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MONTREAL, Nov. 05, 2021 (GLOBE NEWSWIRE) — Sharethrough Inc. (“Sharethrough” or the “Company”), one of the largest independent omnichannel and omniformat ad exchanges in the world, announced today its decision to postpone its previously announced initial public offering (“IPO”) on the Toronto Stock Exchange.
“We made this decision based on adverse and challenging current market conditions, especially for technology companies, despite receiving strong interest and positive indications from the broader institutional investor market,” said JF Cote, Sharethrough’s co-founder and Chief Executive Officer. “While we monitor the market for more stable and favorable IPO conditions, we will continue to build trustworthy relationships with our clients and partners, develop and scale our platforms and technologies, and grow the Sharethrough team to accomplish our goals”.
When speaking about the future of the company, Louis-Charles Genest, Chief Financial Officer said: “Sharethrough is a hyper-growth company, generating free cash flow and positive EBITDA. We are in a solid financial position and we will continue to manage our organization successfully to fulfill our vision with our strong profitable platform”.
About Sharethrough Inc.
Sharethrough is a leading dynamic advertising technology company on a mission to bring human-centric technology to real-time programmatic advertising. As one of the largest independent omnichannel and omniformat ad exchanges in the world, Sharethrough is focused on achieving the best balance of scale and directness. Its state-of-the-art technology maximizes performance and return on ad spend for advertisers while driving superior monetization for publishers.
Sharethrough is headquartered in Montreal with broad coverage across Canada and the United States. For more information, visit sharethrough.com.
Contact:
Investor Relations
investors@sharethrough.com
514-516-4562