Spacefy files for IPO on CSE

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By Ted Liu

Spacefy Inc., an online marketplace that connects creative people with creative spaces, has filed a preliminary prospectus in connection with an initial public offering of a minimum of 13,350,000 units at $0.15 per unit for gross proceeds of $2,002,500.

Spacefy has applied to list its common shares on the Canadian Securities Exchange (CSE).

Leede Jones Gable Inc. acts as agent for the offering. Stikeman Keeley Spiegel LLP and Salley Bowes Harwardt Law Corp. act as legal counsels for Specify and the agent respectively.

Spacify currently has 23,856,500 common shares issued and outstanding, including shares issued pursuant to automatic conversion of outstanding preferred shares. Judeh Siwady, President & CEO and director, is the largest shareholder, controlling 2,525,500 (10.6%) shares.

Spacify’s six-member board also includes Bradley Scharfe (Chair), John Anderson, Michael Bradley, Damian Lee, and Peter McRae.

Toronto based Spacefy provides an online platform designed to connect Creatives to a broad range of venues and other non-traditional spaces to facilitate their creative projects. Spacefy has two market segments; one for space owners and the other, Creatives.

Spacefy’s revenues are derived from commissions and processing fees charged on the total amount of a successful booking:

  • 7.5% commission from space owners on their rental receipts, and
  • 7.5% of amounts paid as a processing fee from Creatives

photo credit: Spacefy