Waterloo, Ont.-based PixStream Inc., a creator of digital equipment that allows telephone companies to carry television broadcasts over their lines, recently landed a $35 million private placement in advance of its IPO which is expected in Fall, 2000, making it one of the largest ever such financings for a Canadian start-up company. Pix Stream, which operates out of offices in Ottawa, Dallas, New Jersey and Britain, has sales approaching $8 million. CIBC World Markets Inc. and Sprott Securities Inc. will act as underwriters.
Acting on behalf of PixStream Inc. was Gowling, Strathy & Henderson. Principal Gowlings lawyer for the transaction was Thomas Hunter of the firm’s Kitchener office, who lead the Gowlings team of John Durdan, Rose Johnson, Cynthia Nash, Ali Nowak and Prijna Gingrich. Kevin Rooney, Sonia Yung and Caroline Kim of Aird & Berlis in Toronto acted for the underwriters.