June 21, 2021

VerticalScope Inc. completes IPO

Goodmans LLP acted for a syndicate of underwriters in connection with the successful closing of VerticalScope Holdings Inc.’s initial public offering for gross proceeds of C$143.8 million.

VerticalScope issued 5,685,000 subordinate voting shares at a price of C$22 per subordinate voting share, for gross proceeds of C$125,070,000. The underwriters exercised their over-allotment option in full and purchased over 850,000 additional subordinate voting shares at the offering price of $22 per share. The exercise of this option, combined with VerticalScope’s initial C$125 million IPO, brought the company’s aggregate gross proceeds to about C$143.8 million.

The syndicate of underwriters was led by RBC Dominion Securities Inc., Canaccord Genuity Corp. and National Bank Financial Inc., as lead underwriters and joint bookrunners, and also included TD Securities Inc., Raymond James Ltd., Desjardins Securities Inc., Cormark Securities Inc. and HSBC Securities (Canada) Inc.

The Subordinate Voting Shares began trading on the Toronto Stock Exchange ("TSX") on June 15, 2021 in Canadian dollars under the symbol "FORA".

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VerticalScope Inc. completes IPO

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