TransactionsGriffiths McBurney Restructures into GMP Securities Ltd and Raises $100,100,000 on IPOPublished: 12/09/2003 By Bruce C. Bell, Peter A. Dunne, Brian P. Koscak, Christopher B. Norton In connection with the $100,100,000 initial public offering of GMP Capital Corp. which closed on December 9, 2003, Cassels Brock acted as counsel with respect to the corporate reorganization and securities regulatory aspects of the transaction. In effect, we orchestrated the transformation of Griffiths McBurney & Partners (“GMP”), a partnership, into GMP Securities Ltd., a corporation. We also introduced GMP Capital Corp. as the holding company and the issuer on the IPO. Once established, GMP Securities had to apply for and obtain all registrations and memberships with all securities commissions, self-regulatory organizations and stock exchanges previously held by GMP. The investment dealer business previously carried on by GMP was then transferred to GMP Securities for shares and assumption of liabilities. GMP was dissolved with its 41 partners exchanging their shares of GMP Securities, the new investment dealer company, for shares of GMP Capital, the IPO vehicle. The two Cassels Brock & Blackwell LLP teams involved were headed by Peter Dunne (securities) on securities regulatory matters and Joe Mannone (securities) on corporate reorganization matters. The securities regulatory team included Christine Vogelesang (securities) and Brian Koscak (securities) and the corporate reorganization team included Chris Norton (tax), Bruce Bell (financial services) and John McFarlane (securities). |