OnX Completes $40M IPO

Thornhill, Ontario-based OnX Incorporated, a provider of end-to-end e-Business solutions to medium and large companies and public sector organizations, closed on April 17, 2000 an Initial Public Offering of 3.81 million shares, raising approximately $40 million for the company. The IPO was in addition to a $25 million private placement of Special Warrants that was completed by OnX in December, 1999.

Cassels Brock & Blackwell LLP in Toronto acted for OnX on the offering, with a team that included Gary Steinhart, Paul M. Stein and Mark Bennett. Chris Hewat, John Tobias and Rod Thacker of the Toronto office of Blake, Cassels & Graydon LLP represented the underwriters in connection with the financing.