Dye & Durham Limited

The Underwriters in Dye & Durham’s $150 million IPO and secondary offering of common shares

Client

The Underwriters

Value

$150 million

Service

Capital Markets

Date Closed

July 2020

Lead Office

Calgary

 

On July 17, 2020, Dye & Durham Limited completed its initial public offering and secondary offering of common shares with gross proceeds of $150 million. Dye & Durham will receive $127.5 million of the gross proceeds and the selling shareholders will receive $22.5 million. In addition, on July 23, 2020 the over-allotment option was exercised in full resulting in additional gross proceeds for Dye & Durham of $22.5 million.  The proceeds will allow Dye & Durham to pursue acquisitions and technological advancements. The offering was led by Canaccord Genuity Corp., Scotia Capital Inc., BMO Nesbitt Burns Inc. and INFOR Financial Inc. as joint bookrunners, and Raymond James Ltd. as underwriter.

Dye & Durham provides cloud-based software and technology solutions to increase productivity for legal and business professionals. The company operates in Canada and the United Kingdom and its customers include law firms, financial service institutions and government organizations.

Osler, Hoskin & Harcourt LLP advised the underwriters with a team consisting of Andrea Whyte, Kelsey Armstrong, Jacob Young, Carson Wetter, Meg Hiles, Deron Fung, Lindsay Hofer (Corporate), Catherine Hamill (Employment & Labour), Sam Ip, Parker Elliot (Technology) with Rob Lando (Corporate) assisting on US securities law matters.