/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
MONTRÉAL, Feb. 23, 2021 /CNW/ -
mdf commerce inc. ("mdf commerce" or the "Corporation")
(TSX: MDF), a leader in SaaS commerce technology solutions,
announced today that it has entered into an agreement with a
syndicate of underwriters led by Stifel GMP (the "Lead
Underwriter", and together with the syndicate of underwriters, the
"Underwriters"), pursuant to which the Underwriters have agreed to
purchase on a bought deal basis 5,517,242 common shares of the
Corporation (the "Common Shares") at a price of $14.50 per Common Share (the "Offering Price")
for gross proceeds of approximately $80
million (the "Offering").
The Underwriters have also been granted an option (the
"Over-Allotment Option"), exercisable in whole or in part and from
time to time, at any time until 30 days after the closing date of
the Offering, to purchase from the Corporation up to 827,586
additional Common Shares at the Offering Price for additional gross
proceeds of up to approximately $12
million to the Corporation. If the Over-Allotment Option is
exercised by the Underwriters in full, aggregate gross proceeds of
the Offering (including the Over-Allotment Option) will be
approximately $92 million.
The Common Shares will be offered by way of a short form
prospectus to be filed in all of the provinces of Canada pursuant to National Instrument 44-101
– Short Form Prospectus Distributions and in the United States on a private placement basis
pursuant to an exemption from the registration requirements of
the United States Securities
Act of 1933, as amended.
The Corporation intends to use the net proceeds of the Offering
for working capital and general corporate purposes.
Luc Filiatreault, President &
CEO, commented: "This investor support is yet another testament to
the strength and success of our growth strategy. We will continue
our relentless pursuit of empowering businesses through efficient
SaaS solutions that enable the flow of commerce, particularly in
the grocery technology vertical".
The Offering is expected to close on or about March 15, 2021 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the Toronto Stock
Exchange.
About mdf commerce inc.
mdf commerce inc. (TSX:MDF) enables the flow of
commerce by providing a broad set of SaaS solutions that optimize
and accelerate commercial interactions between buyers and sellers.
Our platforms and services empower businesses around the
world, allowing them to generate billions of dollars in
transactions on an annual basis. Our strategic sourcing, unified
commerce and eMarketplace platforms are supported by a strong and
dedicated team of more than 600 employees based in Canada, the United
States, Denmark,
Ukraine and China. For more information, please visit us
at mdfcommerce.com, follow us on LinkedIn or call at
1-877-677-9088.
Forward-Looking Statements
This press release contains certain forward-looking statements
with respect to the Corporation.
These forward-looking statements, by their nature,
necessarily involve risks and uncertainties that could cause actual
results to differ materially from those expected by these
forward-looking statements. We consider the assumptions on which
these forward-looking statements are based to be reasonable but
caution the reader that these assumptions regarding future events,
many of which are beyond our control, may ultimately prove to be
incorrect since they are subject to the risks and uncertainties
that affect us. We disclaim any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
applicable securities legislation.
SOURCE mdf commerce inc.
