This story has been updated:
Read the updated news >> Mundo pulls $30M IPO
Mundo Inc., a global online performance-based advertising technology company, intends to raise $60 million in initial public offering of common shares at a price between $8.50 to $9.50 per share.
Mundo has applied to list its common shares on the Toronto Stock Exchange (TSX) under the symbol “MUND”.
The offering is consisting of a primary treasury offering and a secondary offering, if the over-allotment option is exercised. The selling shareholders are Mansfield International Trade Ltd., Four Kids Investment Fund LLC, Stetson Capital Management LLC, ATG Capital LLC, Melechdavid Inc., Barry Honig, John O’Rourke and Jonathan Honig.
In connection with the reorganization of the company, certain shareholders of Mundo’s predecessor received a return of capital of $20 million on their special shares or common shares of Customer Acquisition Network (Canada) Inc. The return of capital to such shareholders is evidenced by a non-interest bearing promissory notes, which will be paid out of proceeds from the offering on closing.
Mundo currently has 17,113,007 common shares issued and outstanding. Jason Theofilos, CEO of Mundo, and International Trade Ltd. are the two largest shareholders, controlling, directly or indirectly, 31.4% and 26.8% of the outstanding pre-IPO shares.
Jakub Malczewski, Managing Director of Ahaka Capital LP, is the sole officer, sole director and sole shareholder of Mansfield’s voting common shares. Ahaka Capital LP is the beneficial owner of Mansfield’s non-voting common shares. David Baazov, founder of Amaya, is the Chairman of Ahaka Capital LP.
Mansfield will receive $10 million as repayment under the promissory notes from the IPO proceeds.
Canaccord Genuity Corp. and Cormark Securities Inc. act as co-lead underwriters and joint bookrunners. Gowling WLG (Canada) LLP and Norton Rose Fulbright Canada LLP are the legal counsel to Mundo and the underwriters respectively.
photo credit: Mundo
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