Dye & Durham Corp, a Toronto-based legal technology company, has filed a preliminary prospectus with Canadian securities regulators outside of Québec for an initial public offering (IPO) of its common shares.
The IPO, which includes a secondary offering, has not yet been priced.
One of the selling shareholders is Manulife Capital, the private equity arm of Canadian insurer Manulife. Manulife invested in the business earlier in 2018, according to the prospectus.
Dye & Durham, which operates in Canada and the United Kingdom, provides cloud-based software and technology solutions for legal and business professionals. It is led by CEO Matthew Proud.
Dye & Durham Corporation Files Preliminary Prospectus for Initial Public Offering of Common Shares
TORONTO, Oct. 1, 2018 /CNW/ – Dye & Durham Corporation (the “Dye & Durham” or the “Company”), a leading provider of cloud-based software and technology solutions, designed to improve efficiency and increase productivity for legal and business professionals, today announced that it has filed, and obtained a receipt for, a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories in Canada (other than Quebec) for a proposed initial public offering and secondary offering of its common shares (the “Offering”). The Offering will include a treasury offering by Dye & Durham and a secondary offering of common shares of certain shareholders. The number of common shares to be sold and the price per common shares have not yet been determined.
The Offering will be managed by a syndicate of underwriters, including BMO Nesbitt Burns Inc., Scotia Capital Inc. and Canaccord Genuity Corp. as bookrunners.
Goodmans LLP is acting as legal counsel to the Company, and Osler, Hoskin & Harcourt LLP is acting as legal counsel to the underwriters.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada (other than Quebec). The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the underwriters listed above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
The preliminary long-form prospectus has not yet become final for purposes of a distribution of securities to the public. 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 the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the time of receipt for the final long-form prospectus or other authorization is obtained from the securities regulatory authority in such province or territory. Copies of the preliminary long-form prospectus are available on SEDAR at www.sedar.com.
The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”), as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registrations requirements of the U.S. Securities Act and applicable state securities laws.
Completion of the Offering is subject to the receipt of customary approvals, including regulatory approvals.
About Dye & Durham Corporation
Dye & Durham Corporation is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham has operations in Canada and the United Kingdom, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.
Additional information can be found at www.dyedurham.com
For further information: Jeff Corcoran, Vice President Sales and Marketing: +1 (416) 640 7100 x 3472