Maxxcom Completes Rights Offering

On July 22, 2002, Toronto-based Maxxcom Inc., a full-service marketing communications organization, completed an offering of rights by way of a long-form prospectus pursuant to which approximately 16.8 million common shares were issued at $1.60 per share for gross proceeds of approximately $26.8 million. The net proceeds of the offering were used to satisfy earn-out payment obligations owed to certain operating company shareholders and reduce amounts owing under Maxxcom’s senior revolving credit facility. Griffiths McBurney & Partners was the soliciting dealer for the offering.

Fogler, Rubinoff LLP acted for Maxxcom, with a team comprised of Avi Greenspoon, Eric Roblin and Judith Hong Wilkin (securities/corporate), Peter Guselle (tax) and David Oliver (banking). Blake, Cassels & Graydon LLP acted for Griffiths, with a team comprised of Rob Collins, Jeff Lloyd, Anoop Dogra, Markus Viirland and John Bursic (securities/corporate) and Bryan Bailey (tax).