Input Capital Corp., the world's first agricultural commodity streaming company, completed an aggregate $41-million public offering and concurrent private placement of Class A common voting shares, which included the exercise in full of an over-allotment option granted to the underwriters and a separate option granted to the private placement investors.
The public offering was underwritten by a syndicate of underwriters led by GMP Securities L.P. and included Beacon Securities Limited, National Bank Financial Inc., Acumen Capital Financial Partners Limited, AltaCorp Capital Inc., and Cormark Securities Inc. The underwriters purchased, on a “bought deal” basis, common shares (including exercise of their over-allotment option) for aggregate gross proceeds of approximately $21.4 million.
The private placement of common shares was made to two wholly owned subsidiaries of Catlin Group Limited. Common shares representing 19.99 per cent of the issued and outstanding common shares were purchased for aggregate gross proceeds of approximately $19.5 million (including exercise of an option to acquire additional common shares). The underwriters advised Input Capital in connection with the private placement.
Input Capital Corp. was advised by a team from McKercher LLP led by Patricia Warsaba, John Pringle, Christopher Masich and Joseph Gill.
The underwriters were represented by Fasken Martineau DuMoulin LLP with a team including Rubin Rapuch, John Sabetti, Jeffrey Gebert, Justine Connelly and Mitchell Thaw.
The Catlin investors were advised by a team from Torys LLP including Michael Amm and Josh Lavine.