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QUISITIVE CLOSES $50M FUNDING Featured

Quisitive Technology Solutions, a Dynamics reseller based in Canada, has closed about $50 million in financing. Proceeds from a Subscription Rights Offering and Concurrent Private Placement are expected to be used in the Quisitive of BankCard USA Merchant Services.

The bought deal public offering involved the sale of 38,410,000 subscription receipts including exercise of an over-allotment option C$1.50 per Subscription Receipt with gross proceeds of approximately $45.7 million U.S. and concurrent private placement with FAX Capital of 3,333,333 Subscription Receipts with gross proceeds of about $4 million U.S. The purchase of BankCard USA is one of two deals announced by Quisitive last month. The other was the acquisition of healthcare firm, Mazik Global, which closed on April 1.

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