Freshii completes $125M IPO and secondary offering

Freshii Inc. (TSX: FRII) has closed its initial public offering (IPO) and secondary offering of 10,900,000 Class A subordinate voting shares at $11.50 per Class A subordinate voting share for gross proceeds of $125,350,000.

Freshii and selling shareholders received gross proceeds of $50,140,000 and $75,210,000, respectively.

Klass Capital and Gordon Investment Partners (GIP) sold 1,026,972 and 867,397 shares for $11.82 million and $9.98 million respective. Klass and GIP continue to hold 2,033,842 and 1,717,817 shares worth $23.39 million and $19.75 million at the offering price.

Freshii stock was up at $12.79 as of 12:12 PM EST, January 31, 2107.

The offering was managed by a syndicate of underwriters co-led by CIBC Capital Markets, Jefferies Securities, Inc., RBC Capital Markets and Robert W. Baird & Co. Incorporated and including Cowen and Company, LLC, Canaccord Genuity Corp., Cormark Securities Inc. and National Bank Financial Inc.

DLA Piper (Canada) LLP and Davies Ward Phillips & Vineberg LLP acted as legal counsels to Freshii and the underwriters respectively.

photo credit: Freshii

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.