Quisitive Technology Solutions is raising about $8 million (U.S.) in a sale of securities to a group of Canadian underwriters. The Toronto, Ont.-based company expects the deal will close this week.

Quisitive, which purchased the former Corporate Renaissance Group and Menlo Technologies, was Microsoft’s Country Partner of the Year in 2019. The funds are being raised by an offering of 14,666,700 units  at a price of 75 cents per unit (Canadian). The deal has been raised to $11 million (Canadian) from an original $5 million (Canadian) If an over-allotment option is exercised the deal has a value of about $9.2 million (U.S.) If the underwriter’s option the President’s list option are both fully exercised the gross proceeds will be approximately $11.8 million (U.S.) The funds are being raised through a public offering only in Canada and in the United States via private placement. Quisitive had 2019 revenue of about $18 million and with the Menlo results that rises to roughly $42 million.

Last modified on Wednesday, 24 June 2020
Read 118 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline