/THIS NEWS RELEASE IS INTENDED FOR
DISTRIBUTION IN CANADA ONLY AND IS
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MONTRÉAL, Oct. 19, 2020 /CNW/ -
mdf commerce inc. (TSX: MDF) ("mdf" or the "Company") announced
today that, due to a stronger demand, it has agreed with a
syndicate of underwriters led by Stifel GMP (together with the
syndicate of underwriters, the "Underwriters"), to increase
the size of its previously announced $40,000,000 bought deal offering. Pursuant to the
upsized deal terms, the Underwriters have agreed to purchase, on a
bought deal basis, 4,157,000 common shares (the "Common Shares") of
the Company at a price of $10.00 per
Common Share (the "Offering Price") for aggregate gross proceeds to
mdf of $41,570,000 (the
"Offering").
The Underwriters have also been granted an option (the
"Over-Allotment Option"), exercisable in whole or in part and from
time to time, at any time until 30 days after the closing date of
the Offering, to purchase from the Company up to an additional
623,000 Common Shares at the Offering Price for additional gross
proceeds of up to $6,230,000 to the
Company. If the Over-Allotment Option is exercised by the
Underwriters in full, aggregate gross proceeds of the Offering
(including the Over-Allotment Option) will be $47,800,000.
The Common Shares will be offered by way of a short form
prospectus to be filed in all of the provinces of Canada pursuant to National Instrument 44-101
– Short Form Prospectus Distributions and in the United States on a private placement basis
pursuant to an exemption from the registration requirements of
the United States Securities
Act of 1933, as amended.
The Company intends to use the net proceeds of the Offering for
working capital and general corporate purposes.
The Offering is expected to close on or about November 6, 2020 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the Toronto Stock
Exchange.
About mdf commerce inc.
mdf commerce inc. (TSX:MDF), formerly known as Mediagrif
Interactive Technologies Inc., enables the flow of commerce by
providing a broad set of SaaS solutions that optimize and
accelerate commercial interactions between buyers and sellers. Our
platforms and services empower businesses around the world,
allowing them to generate billions of dollars in transactions on an
annual basis. Our strategic sourcing, e-commerce, supply chain
collaboration and e-marketplace solutions are supported by a strong
and dedicated team of more than 600 employees based in Canada, the United
States, Denmark,
Ukraine and China. For more information, please visit us
at mdfcommerce.com, follow us on LinkedIn or call at
1-877-677-9088.
This press release contains certain forward-looking statements
with respect to the Company. These forward-looking statements, by
their nature, necessarily involve risks and uncertainties that
could cause actual results to differ materially from those
contemplated by these forward-looking statements. We consider the
assumptions on which these forward-looking statements are based to
be reasonable, but caution the reader that these assumptions
regarding future events, many of which are beyond our control, may
ultimately prove to be incorrect since they are subject to risks
and uncertainties that affect us. We disclaim any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable securities legislation. All
amounts are in Canadian dollars.
SOURCE mdf commerce inc.
