Montreal-based payment technology company Nuvei Corp, which went public last year, has closed its previously announced secondary offering. The offering brought in $552 million, which includes the partial exercise of the greenshoe option. The selling shareholders included Novacap and Caisse de dépôt et placement du Québec, which invested in the company in 2017.
MONTREAL, March 24, 2021 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, has announced today the closing of the previously announced secondary offering on a bought deal basis by funds managed by Novacap Management Inc., Whiskey Papa Fox Inc., a holding company controlled by Philip Fayer, our Chair and Chief Executive Officer, CDP Investissements Inc., a wholly-owned subsidiary of Caisse de dépôt et placement du Québec, and David Schwartz, our Chief Financial Officer (together the “Selling Shareholders”), of an aggregate of 9,169,387 subordinate voting shares of the Company at a purchase price of US$60.22 per subordinate voting share for total gross proceeds to the Selling Shareholders of approximately US$552 million (the “Offering”). The Offering includes the partial exercise by the underwriters of their over-allotment option, as described below.
Goldman Sachs Canada Inc., Credit Suisse, BMO Capital Markets and RBC Capital Markets acted as joint bookrunners for the Offering. CIBC World Markets Inc., National Bank Financial Inc., Scotiabank, Merrill Lynch Canada Inc., Citigroup Global Markets Canada Inc., Raymond James Ltd. and Stifel Nicolaus Canada Inc. also acted as underwriters for the Offering (collectively, the “Underwriters”).
As part of the Offering, the Selling Shareholders (except David Schwartz) granted the Underwriters an option, exercisable, in whole or in part, at any time until April 23, 2021, to purchase up to an additional 15% of the Offering at the offering price to cover over-allotments (the “Over-Allotment Option”). As indicated above, the Underwriters have partially exercised their Over-Allotment Option and purchased 969,387 additional subordinate voting shares.
No securities regulatory authority has either approved or disapproved the contents of this press release. The subordinate voting shares have not been and will not be registered under the U.S. Securities Act or any U.S. state securities law and 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 registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
We are Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform offers direct connections to all major payment card schemes in over 200 markets worldwide, supports 455 local and alternative payment methods and nearly 150 currencies. Our purpose is to make our world a local marketplace.