April 26, 2007
Descartes Systems Group (TSX:DSG, NASDAQ:DSGX), a leading provider of software-as-a-service logistics solutions, completed a bought deal offering of 5,000,000 common shares by way of a short form prospectus for gross proceeds of $25,000,000. An additional $3,750,000 was raised through the purchase by the Underwriters of 750,000 common shares pursuant to the exercise in full of the overallotment option granted to the Underwriters in respect of the offering. The securities purchased pursuant to the over-allotment option consisted of a new issue of 200,000 common shares and a secondary offering of 550,000 previously issued common shares of Descartes. The offering was completed on a bought deal underwritten basis by a syndicate of underwriters led by GMP Securities L.P. and including CIBC World Markets Inc. and Genuity Capital Markets G.P.
Wildeboer Dellelce LLP represented the Underwriters with a team that included Derek Sigel, Sanjeev Patel and Joanne Sanci (corporate/securities).