EcoSynthetix Inc. completed its initial public offering of 11,150,000 common shares of EcoSynthetix at a price of $9 per share for aggregate gross proceeds of $100,350,000. Concurrently with the Offering, EcoSynthetix completed the acquisi-tion of EcoSynthetix Ltd., a Michigan company, from certain of the existing holders in exchange for common shares of EcoSynthetix.
EcoSynthetix (TSX: ECO) is a renewable chemicals company specializing in bio-based products that can be used as in-puts in industrial manufacturing for a wide range of consumer products. The products offer a reduced carbon footprint and are marketed primarily on the basis of lower cost, stable pricing and equal or superior performance.
The offering was underwritten by a syndicate of underwriters co-led by UBS Securities Canada Inc., Canaccord Genuity Corp. and RBC Capital Markets and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., GMP Securities L.P. and Piper Jaffray & Co.
Cassels Brock & Blackwell LLP represented EcoSynthetix with a team that included John Vettese, Alex Iliopoulos, Philip Long, Jennifer Hansen and Adria Leung (securities); Peter Bouzalas, Sabrina Fiorellino and Jamie Firsten (business law); Ken Snider, Chris Norton, Paul Carenza and Anna Malazhavaya (corporate tax) and Stephen Selznick (IP).
Osler, Hoskin & Harcourt LLP represented the underwriters with a team that included Jeremy Fraiberg, Desmond Lee, Jason Comerford, David Vernon and Tim Watson (corporate & securities); Kim Wharram, Paul Seraganian, Kevin Colan and Ina Eroff (tax) and Jonathan Cutler (IP).