CIBC Completes Largest Equity Issue in Canada

On January 24, 2008, Canadian Imperial Bank of Commerce completed the largest equity issue ever in Canada. CIBC issued 45,346,130 common shares by prospectus and private placement for aggregate gross proceeds of $2,937,669,337. CIBC issued 21,441,750 common shares to the public through a prospectus offering led by CIBC World Markets Inc. as book runner and jointly led by UBS Securities Canada Inc. CIBC also issued 23,904,380 common shares to a group of institutional investors by private placements.

CIBC was represented by in-house counsel Robert Richardson and Eddy Mezzetta and by Blake, Cassels & Graydon LLP, with a team that included Ernest McNee, Ross McKee, Andrew Gordon, Sophia Javed, Ali Naushahi, Kevin Rusli, Michael Smith, Mostafa Asadi, Kym Zelinski (securities); Chris Van Loan (tax) and Hélène Barette (translation). The underwriters were represented by Stikeman Elliott LLP, with a team that included Philip Henderson, Rob Assal, Stephen Johnson (securities); Kevin Kelly and Trevor McGowan (tax).