On October 2, 2015, Gibraltar Growth Corporation completed its initial public offering of $100 million of Class A Restricted Voting Units. The Corporation has granted the underwriters of the Offering a 30-day option following closing of the Offering to purchase up to an additional 1,500,000 Class A Restricted Voting Units, at a price of $10.00 each (the Over-Allotment Option) for additional gross proceeds of up to $15,000,000. The proceeds from the distribution of the Class A Restricted Voting Units were (and the proceeds from any exercise of the Over-Allotment Option will be) deposited into an escrow account and will only be released upon certain prescribed conditions as further described in the final prospectus of the Corporation dated September 25, 2015.
The Corporation is a special purpose acquisition corporation (SPAC) formed for the purpose of effecting a qualifying acquisition.
The Offering was underwritten by a syndicate of underwriters led by CIBC, TD Securities Inc. and Cantor Fitzgerald & Co., and included National Bank Financial Inc.
Gibraltar Growth Corporation was represented by Jeffrey Glass and Norbert Knutel of Blake, Cassels & Graydon LLP.