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Cassels Brock Acts For EcoSynthetix Inc. As It Closes Its $100 Million Initial Public Offering

Published: 08/16/2011

Team: Jen Hansen, Alexandra Iliopoulos, Adria Leung Lim, Christopher B. Norton, Stephen I. Selznick, Ken Snider, John P. Vettese

EcoSynthetix Inc. (“EcoSynthetix”) announced on August 4th, 2011, that it closed its initial public offering  of 11,150,000 common shares of the Company, at a price of CDN$9.00 per share for aggregate gross proceeds to EcoSynthetix of CDN$100,350,000. Concurrently with the initial public offering, EcoSynthetix completed the acquisition of  approximately 77% of the outstanding shares of common stock of EcoSynthetix Inc.

The Offering was underwritten by a syndicate of underwriters co-led by UBS Securities Canada Inc., Canaccord Genuity Corp. and RBC Capital Markets and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., GMP Securities L.P. and Piper Jaffray & Co. (collectively, the “Underwriters”).  EcoSynthetix has granted the Underwriters an over-allotment option, exercisable for a period of 30 days from the closing date, to purchase up to an additional 1,672,500 common shares.

Cassels Brock represented EcoSynthetix with a team that included John Vettese, Alex Iliopoulos, Philip Long, Jennifer Hansen and Adria Leung (Securities), Peter Bouzalas, Sabrina Fiorellino and Jamie Firsten (Business Law), Ken Snider, Chris Norton, Paul Carenza and Anna Malazhavaya (Corporate Tax) and Stephen Selznick (Intellectual Property).