Stingray Digital Group completes bought deal public offering

Stingray Digital Group Inc. (Stingray) completed a public offering of an aggregate of 4,900,200 subordinate voting shares and variable subordinate voting shares, inclusive of 552,200 subordinate voting shares issued pursuant to the partial exercise of the over-allotment option, on a bought deal basis, at a price of $9.20 per share for gross proceeds of approximately $45.1 million.

The syndicate of underwriters for the offering was co-led by National Bank Financial Inc. and GMP Securities L.P. and included BMO Nesbitt Burns Inc., TD Securities Inc., CIBC World Markets Inc. and Desjardins Securities Inc.

Stingray is a leading business-to-business multiplatform music and in-store media solutions provider operating on a global scale and reaching an estimated 400 million subscribers (or users) in 156 countries.

Stingray was represented in-house by Lloyd Feldman, Senior Vice-President, General Counsel and Corporate Secretary, and by a team at Davies Ward Phillips & Vineberg LLP that comprised Olivier Désilets (capital markets), Marie-Emmanuelle Vaillancourt (tax), and Scott Fisher (New York, US securities law matters).

The underwriters were represented by Fasken Martineau DuMoulin LLP, with a team that comprised Jean-Pierre Chamberland, Caitlin Rose, Marie-Christine Valois, Dan Su and Émilie Marceau (capital markets), Stephen Whitehead, Scott Prescott and Yael Wexler (regulatory) and Claude Jodoin (tax).


Olivier Désilets Marie-Emmanuelle Vaillancourt Jean-Pierre Chamberland Stephen P. Whitehead Scott M. Prescott Claude E. Jodoin


Davies Ward Phillips & Vineberg LLP Fasken Martineau DuMoulin LLP