RegTech Dye & Durham has completed a post-IPO raise worth roughly $394m.
The deal was raised by entering an agreement with an underwriting syndicate led by Canaccord Genuity, BMO Capital Markets and Scotia Capital.
As part of the agreement, Dye & Durham would complete a new issue on a bought deal basis of 3,960,400 common share of $39.8 per share worth about $158m and $236.45m aggregate principal amount of convertible unsecured subordinated debentures due March 1, 2026 at a price of $1,000 per debenture.
Concurrently with the Offerings, certain significant shareholders of the company have entered into a block trade agreement with the lead underwriters to sell an aggregate of 1,980,200 common shares at a purchase price of $39.8.
Dye & Durham Limited is a provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals.
The Canadian company went public in July 2020.
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