On June 10, 2015, DAVIDsTEA Inc. (the “Company”) completed its initial public offering in the United States of 3,414,261 common shares at a price per share of USD$19.00, for aggregate gross proceeds to the Company of approximately USD$64.9 million (the “Treasury Offering”). On the same day and in connection with the Treasury Offering, certain existing shareholders of the Company also sold common shares on a secondary basis at a price per share of USD$19.00, for aggregate gross proceeds to those selling shareholders of approximately USD$46.6 million (together with the Treasury Offering, the “Offering”). Included in the Offering was the sale of common shares to Canadian investors on a prospectus-exempt basis at the same price per share, for aggregate proceeds to the Company of approximately USD$10 million. The Company was listed on the NASDAQ and commenced trading on June 5, 2015 under the symbol “DTEA” at an initial price per share of USD$19.00, reaching an end of day trading price upwards of USD$25.00.
DAVIDsTEA Inc. was represented by Osler on Canadian matters with a team consisting of Shahir Guindi, François Paradis, Raphaël Amram and Jeremy Brisset (Corporate Finance; Securities); and Mark Brender and Alain Fournier (Tax).