On December 17, 2020, MindBeacon priced its initial public offering consisting of a treasury offering of 8,125,000 common shares at a price of $8.00 per common share for aggregate gross proceeds of $65 million and a secondary offering of approximately $10 million. The common shares began trading on the TSX on December 18, 2020 under the symbol “MBCN” and the offering closed on December 23, 2020.
The offering was led by TD Securities Inc. and Credit Suisse Securities (Canada), Inc. as joint bookrunners, Canaccord Genuity Corp. as co-lead underwriter and Bloom Burton Securities Inc., Beacon Securities Limited and Echelon Wealth Partners Inc. as underwriters.
MindBeacon, the company’s online platform, launched in 2017 as one of the first commercially available, digitally-native platforms offering therapist-assisted internet-based Cognitive Behavioural Therapy (CBT) in Canada.
Osler, Hoskin & Harcourt LLP advised MindBeacon, with a team consisting of François Paradis, Shahir Guindi, Jason Comerford, Marisa Corona, Natasha Gould, Jie Chai, Kelsey Weiner (Corporate), Manon Thivierge, Jennifer Lee, Kaleigh Hawkins-Schulz (Tax) and Susan Newell (Health).