On April 21, 2015, Dundee Acquisition Ltd. completed its initial public offering of 11,230,000 Class A restricted voting units (which included the partial exercise by the underwriters of an over-allotment option to purchase up to 1,500,000 additional units) for gross proceeds of $112,300,000. Dundee Acquisition Ltd. became the first public special purpose acquisition corporation (SPAC) in Canada and was formed for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving Dundee Acquisition Ltd. The syndicate of underwriters for the offering was led by TD Securities Inc. and Cantor Fitzgerald Canada Corporation, and included National Bank Financial Inc. and Dundee Securities Ltd.
Dundee Corporation, the sponsor of Dundee Acquisition Ltd., was represented internally by Jonathan Turnbull and Carl Calandra (Senior Counsel). Dundee was represented externally by Stikeman Elliott LLP’s Simon Romano and Kristina Vranjkovic (securities) and John Lorito and Jill Winton (tax).
The underwriters were represented by Jeff Glass and Norbert Knutel (securities) and Edward Miller and Josh Jones (tax) of Blake, Cassels & Graydon LLP.
