GuestLogix Inc. Closes $39 Million Bought Deal Financing and $10 Million Private Placement

GuestLogix Inc. (TSX:GXI) (“GuestLogix”), a leading global provider of ancillary-focused merchandizing, payment and business intelligence technology to airlines and the passenger travel industry, closed a bought deal prospectus offering (the “Public Offering”) that consisted of (i) 20,000,000 subscription receipts at a price of $0.95 per subscription receipt for gross proceeds of $19 million and (ii) $20 million aggregate principal amount of 7% extendible convertible unsecured subordinated debentures. Concurrently with the Public Offering, GuestLogix issued 10,479,000 subscription receipts on a private placement basis at a price of $0.95 per subscription receipt for gross proceeds of $9,955,050 (the “Private Placement”).

The proceeds of the Public Offering and the Private Placement will be used principally to fund GuestLogix’s acquisition of OpenJaw Technologies Limited, a Dublin-based travel technology firm.

The Public Offering was conducted by a syndicate of underwriters led by National Bank Financial Inc. (“NBF”) and including CIBC World Markets Inc., Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc., GMP Securities L.P. and Mackie Research Capital Corporation. NBF acted as agent in respect of the Private Placement.

Wildeboer Dellelce LLP acted as counsel to GuestLogix in connection with the Public Offering and the Private Placement with a team that included Rob Wortzman, Mack Hosseinian, Lara Wharton (corporate/securities) and Kevin Fritz (tax).