Davies acted for the syndicate of underwriters led by TD Securities Inc. and Goldman Sachs Canada Inc., as joint bookrunners, in Softchoice Corporation’s $350-million initial public offering (IPO).
Softchoice is a Canada-based software and cloud-focused IT solutions provider with annual gross revenue of approximately $1.7 billion. Softchoice has developed strong partnerships with many hybrid and public cloud-focused vendors, including Microsoft, Amazon Web Services and Google. The IPO brings the company’s services into the spotlight at a time when businesses are investing heavily in digital transformation.
The IPO was completed pursuant to the PREP prospectus dated May 26, 2021, and included a treasury offering and a secondary offering by the Birch Hill Group. Softchoice used the net proceeds from the treasury offering to repay debts, including those incurred to fund a pre-closing capital reorganization.
The Davies team advising on the offering included Rob Murphy and Matthew Sherman (Capital Markets) and Julie Colden (Tax).