Eventi-backed Pivotree files final prospectus for C$60m IPO

Pivotree has filed a final prospectus for an initial public offering on the TSX Venture Exchange.

Pivotree has filed a final prospectus for an initial public offering on the TSX Venture Exchange. The IPO is priced to raise C$60 million and another $9 million if the over-allotment option is exercised. Based in Toronto, Pivotree is a commerce and mobile device management services provider. Its investors include Eventi Capital Partners.

PRESS RELEASE

TORONTO, Oct. 26, 2020 /CNW/ – Pivotree Inc. (“Pivotree” or the “Company”), a leading global commerce and MDM services provider, announced today that it has obtained a receipt for its final prospectus filed with the securities regulatory authorities in each of the provinces of Canada and has entered into an underwriting agreement for its previously announced initial public offering of common shares (the “Offering”). Pursuant to the Offering, Pivotree will issue an aggregate of 7,059,000 common shares at a price of C$8.50 per share, for total gross proceeds of C$60,001,500.

The Underwriters (as defined below) have also been granted an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 1,058,850 common shares at a price of C$8.50 per share for additional gross proceeds of C$9,000,225 if the Over-Allotment Option is exercised in full. The Over-Allotment Option can be exercised for a period of 30 days from the closing date.

The Offering is being underwritten by a syndicate of underwriters led by Canaccord Genuity Corp. and National Bank Financial Inc. as joint bookrunners (the “Lead Underwriters”), and also including Cormark Securities Inc. and Paradigm Capital Inc. (collectively with the Lead Underwriters, the “Underwriters”).

Owens Wright LLP is acting as legal counsel to Pivotree and Goodmans LLP is acting as legal counsel to the Underwriters.

The TSX Venture Exchange (“TSXV”) has conditionally approved the listing of the common shares, subject to fulfilling customary TSXV requirements. The closing of the Offering is expected to occur on October 30, 2020, subject to customary closing conditions, at which point the common shares will commence trading on the TSXV under the symbol “PVT”.

A copy of the final prospectus for the Offering is available on SEDAR at www.sedar.com.
No securities regulatory authority has either approved or disapproved the contents of this news release. This news 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.

The securities under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account of benefit of, U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in any jurisdiction in which the offering or sale is not permitted.

About Pivotree
Pivotree is a leading global commerce and MDM services provider. It is an end-to-end vendor supporting clients from strategy, platform selection, deployment, and hosting through to ongoing support. It operates as a single expert resource to help companies adapt relentlessly in an ever-changing digital commerce landscape. Leading and innovative clients rely on Pivotree’s deep expertise to choose enterprise-proven solutions and design, build, and connect critical systems to run smoothly at defining moments in a commerce business. Pivotree serves as a trusted partner to over 170 market-leading brands and forward-thinking B2C and B2B companies, including many companies in the Fortune 1000. With offices and customers in the Americas, EMEA, and APAC, Pivotree is widely recognized as a high-growth company and industry leader around the globe. For more information, visit http://www.pivotree.com.