Nerds on Site files for $4M IPO on CSE

Nerds on Site Inc. has filed for an initial public offering of a minimum of 5,714,285 units and a maximum of 11,428,571 units at a price of $0.35 per unit for gross proceeds of between $2,000,000 (minimum offering) and $4,000,000 (maximum offering).

Canaccord Genuity Corp. acts as agent for the offering. Norton Rose Fulbright Canada LLP and McLeod Law LLP act as legal counsels to Nerds on Site and the agent respectively.

Nerds on Site has applied to list its common shares on The Canadian Securities Exchange (CSE).

London, Ontario based Nerds on Site provides mobile IT support for small to medium-sized businesses. Its services include computer set up, network installation, tailored software services and IT support.

Nerds on Site currently has seven full-time employees and 125 Consultants operating in major cities across Canada. The company plans to grow its Canadian business by hiring a designated sales force to increase brand awareness and improve client sales and origination. It intends to expand its business into the United States through licensing and franchising agreements, building a network of U.S. based IT consultants that operate under the “Nerds on Site” brand.

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Nerds on Sites previously closed a round of financing in 2017.

photo credit: Nerds on Site