Maxxcom, the largest full-service marketing communications organization based in Canada, announced on March 23, 2000 that it has completed the initial public offering of 5.8 million shares at $10.75 each for a total offering of $62,350,000. The company has granted the underwriters an option to purchase up to an additional 870,000 shares to cover over-allotments, if any, until 30 days after the closing date. If the over-allotment is exercised, the transaction will increase by up to $9.4 million.
Torys acted for the lead underwriters, CIBC World Markets and RBC Dominion Securities, on the transaction. The Torys team included Phil Brown and David Seville in Torys’ Toronto office and Bob Ouimette, Carol Divine and Alex Kau in its New York office. Irwin Greenblatt, Avi Greenspoon, Daniel Ford and Ross Francis of Fogler, Rubinoff LLP acted for Maxxcom.