SmartCentres in connection with its $500-million debentures offering

On November 12, 2025, SmartCentres Real Estate Investment Trust (SmartCentres) closed its previously announced private placement of $250-million aggregate principal amount of 3.599% Series AC senior unsecured debentures (the Series AC debentures) and $250-million aggregate principal amount of...

Lead Office: Toronto Date Announced: November 12, 2025 Value: $500 million

Clio in its US$1-billion acquisition of vLex and US$500-million Series G investment round

Osler advised Clio in its acquisition of vLex for US$1billion. This acquisition is the largest M&A transaction in the legal technology sector in history. Alongside this transaction, Clio announced a US $500-million Series G funding round at a US$5-billion valuation led by New Enterprise...

Lead Office: Vancouver Date Closed: November 10, 2025 Value: US$1billion

Wealthsimple in its $750-million Series E round at a post-money valuation of $10 billion

On October 27, 2025, Wealthsimple announced that it has signed a Series E round of up to $750 million at a post-money valuation of $10 billion. The round, which includes both a $550-million primary offering and a secondary offering of up to $200 million, is co-led by Dragoneer Investment Group and...

Lead Office: Toronto Date Announced: October 27, 2025 Value: $750 million

AmacaThera in its licensing agreement with Pacira Biosciences for US$230 million

On November 4, 2025, AmacaThera announced that it signed an exclusive global licensing agreement with Pacira Biosciences for up to US$230 million, validating its tunable drug delivery platform. AmacaThera is a leading developer of next-generation hydrogel-based drug delivery solutions. Using a...

Lead Office: Toronto Date Announced: November 4, 2025 Value: US$230 million

Beacon Software in its US$250-million Series B financing

On November 4, 2025, Beacon Software announced that it secured US$250 million in Series B financing. This round was led by General Catalyst, D1 Capital and Lightspeed Venture Partners and saw participation from BDT & MSD Partners, Chris Rogers (CEO of Instacart) and Sator Grove. With this new...

Lead Office: Toronto Date Announced: November 4, 2025 Value: US$250 million

Xanadu in its cross-border de-SPAC transaction

On November 3, 2025, Xanadu Quantum Technologies Inc. (Xanadu) announced its going-public transaction by way of a business combination with Crane Harbor Acquisition Corporation (Crane Harbor), a special-purpose acquisition corporation (SPAC) listed on the Nasdaq Stock Market. The transaction...

Lead Office: Toronto Date Announced: November 3, 2025 Value: US$3 billion

First Nations Finance Authority in its $435-million offering of Senior Secured Bonds

On October 27, 2025, the First Nations Finance Authority (FNFA) completed an additional offering of $435 million in aggregate principal amount of 1.71% Senior Secured Bonds, Series 2020-1, due June 16, 2030. The offering was made through an underwriting syndicate comprised of National Bank...

Lead Office: Toronto Date Closed: October 27, 2025 Value: $435 million

Farm Credit Canada in its investment in Maple Bridge Ventures

On October 28, 2025, Maple Bridge Ventures announced the successful close of $10.2 million for its debut fund — Canada’s first institutional-grade investment vehicle dedicated to immigrant-led technology entrepreneurs, a group typically underserved by traditional investment solutions. The...

Lead Office: Vancouver Date Announced: October 28, 2025 Value: $10.2 million

Paine Schwartz Partners–backed HGS BioScience in its acquisition of NutriAg

On October 21, 2025, Paine Schwartz Partners–backed HGS BioScience announced it had acquired NutriAg Ltd., a Toronto-based innovator in bionutritional technologies. The combinations brings together HGS’s strength in humic acid-based products, U.S. market presence, and vertically...

Lead Office: Toronto Date Announced: October 21, 2025 Value: --

Nelnet Inc. in its agreement to acquire the student loan servicing business of Finastra in Canada

On October 23, 2025, Nelnet Inc., along with its wholly owned subsidiary Nelnet Canada, Inc., announced its agreement to acquire Finastra Holdings Limited’s Canadian student loan servicing business. Finastra’s Canadian student loan servicing business is...

Lead Office: Toronto Date Announced: October 23, 2025 Value: --