Haivision Systems prices $30M IPO on TSX

CPE News (12/09/2020) – Haivision Systems Inc., a provider of video streaming solutions, has priced its proposed initial public offering of common shares.

Haivision initially proposed to raise gross proceeds of $45 million priced at at between $6.50 and $7.00 per common share.

Haivision now will issue 5,000,000 common shares at $6.00 per share gross proceeds of $30 million.

The Toronto Stock Exchange (TSX) has conditionally approved the listing of our common shares under the symbol “HAI.” The offering is expected to close on or about December 16, 2020.

Upon closing of the offering, Haivision will have 25,862,019 common shares issued and outstanding or 26,612,019 common shares if the over allotment option granted to the underwriters is exercised in full, valuing the company at $155 million or $160 million if the over-allotment option is exercised in full.

Miroslav (Mirko) Wicha, Chairman & CEO, Thomas O. Hecht are two largest shareholders, controlling 3,561,889 and 3,268,352 common shares respectively.

Montreal based Haivision Systems is a leading provider of infrastructure solutions for the video streaming market, servicing enterprises and governments globally.

photo credit: Haivision