TORONTO--(BUSINESS WIRE)--Q4 Inc. (“Q4” or the “Company”) (TSX: QFOR) today announced the closing of its previously announced initial public offering (the “Offering”) of 8,334,000 common shares of the Company at a price of $12.00 per common share (the “Offering Price”), for gross proceeds of $100,008,000.
The common shares of the Company are listed and began trading on the Toronto Stock Exchange on October 25, 2021 under the symbol “QFOR”.
The Offering was made through a syndicate of underwriters led by CIBC Capital Markets, National Bank Financial Inc. and Credit Suisse Securities (Canada), Inc., as joint bookrunners, and included Canaccord Genuity Corp., Raymond James Ltd., RBC Capital Markets, Stifel Nicolaus Canada Inc., TD Securities Inc. and INFOR Financial Inc. (collectively, the “Underwriters”). The Company and a member of Company management (the “Selling Shareholder”) granted to the Underwriters an over-allotment option (the “Over-Allotment Option”), exercisable in whole or in part, at any time for a period of 30 days following the closing of the Offering, to purchase up to an additional 1,250,100 common shares at the Offering Price, for additional gross proceeds of up to $14 million to the Company and up to $1 million to the Selling Shareholder, if the Over-Allotment Option is exercised in full. The Company will not receive any proceeds from the sale of common shares by the Selling Shareholder.
Q4 intends to use the net proceeds of the Offering: (i) to repay all of the outstanding indebtedness under its existing credit facilities; (ii) to allow it to pursue its growth strategies, which include expanding its customer base through strategic investments in its sales and marketing strategy and its channel partner strategy, supporting the growth in services to its existing customers to enhance product adoption, and expanding its product offerings with new products and capabilities for all participants in the capital markets ecosystem, including for general corporate purposes and to fund working capital; and (iii) to selectively pursue acquisitions.
No securities regulatory authority has either approved or disapproved the contents of this news release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Q4 in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities law and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.
About Q4 Inc.
Q4 Inc. is a leading capital markets communications platform that is transforming the way publicly traded companies, investors and investment banks make decisions to efficiently discover, communicate and engage with each other. The Q4 end-to-end technology platform facilitates interactions across the capital markets through its IR website products, virtual events solutions, capital markets customer relationship management solution, and shareholder and market analytics tools. The firm is a trusted partner to over 2,500 public companies including approximately 50% of the S&P 500 constituent companies. Q4 is based in Toronto, with offices in New York and London. To learn more, visit: www.q4inc.com.
This news release may contain forward-looking information within the meaning of applicable securities laws, which reflect the Company’s current expectations regarding future events. Such information includes, but is not limited to statements related to the exercise of the Over-Allotment Option. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s final long form prospectus. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.