Docebo Inc., an investee company of Intercap Equity Inc. and Klass Capital, intends to raise $75 million through the issuance of common shares to be priced between $14-$16 per share, according to its amended preliminary long-form prospectus in connection with its proposed initial public offering (IPO). The gross proceeds will increase to $86,250,000 if the over-allotment option granted to the underwriter is to exercise in full.
Docebo has applied to have its common shares listed on the Toronto Stock Exchange (TSX) under symbol “DCBO”.
Assuming the midpoint of the IPO price at $15, Docebo would have 27.8 million shares outstanding on non-diluted basis, valuing the company at approximately $417 million.
Docebo’s major shareholders, Intercap Equity Inc. and Klass Capital would continue to own 64% and 11% of the non-diluted outstanding shares respectively.
The IPO underwriting syndicate is co-led by Canaccord Genuity Corp. and TD Securities Inc. and includes BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc., and National Bank Financial Inc.
Goodmans LLP and Stikeman Elliott LLP act as legal counsel to Docebo and underwriters respectively.
Founded in 2005 and led by CEO Claudio Erba, Docebo provides its customers with an easy-to-use, highly configurable and affordable learning management platform with end-to-end capabilities and critical functionality needed to train internal and external workforces, partners and customers.