November 08, 2011Avigilon Corporation has completed an initial public offering and secondary offering of its common shares at a price of $4.50 per share for gross proceeds to Avigilon and the selling shareholders of approximately $25 million. The underwriting syndicate for the offering was led by Raymond James Ltd. and included BMO Nesbitt Burns Inc. and GMP Securities L.P. In connection with the offering, Avigilon and the selling shareholders have granted the underwriters an over-allotment option to purchase, in aggregate, up to an additional 833,167 common shares at the offering price of $4.50 per share.
Avigilon designs, manufactures and markets high definition, network-based video surveillance systems and equipment for the global security market. The common shares commenced trading on November 8, 2011 on the Toronto Stock Exchange under the symbol “AVO”.
Wildeboer Dellelce LLP acted for the underwriters with a team that included Derek Sigel, Darryl Holyday and Steven Russo (corporate/securities) and Kevin Fritz (tax).