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Summary
- Seasoned investors are always on the lookout for fresh and upcoming listings that are debuting on the stock exchanges.
- A Vancouver-based company’s IPO prospectus reveals that the company’s revenue grew from US$ 9.8 million in 2019 to about US$ 21 million in 2020.
- A Saskatoon-based firm revealed in a release in March that it plans to raise about C$ 100 million from its IPO.
Seasoned investors are always on the lookout for fresh and upcoming listings that are debuting on the stock exchanges. While some companies make a lot of noise with their public listing launches, others make quiet a subdued entrance. And so, it can be trick to keep a tab on new initial public offerings (IPOs) from time to time. To make this work easier, here are some detailed profiles of three Canadian private enterprises that are likely to hit the public equity world soon – Nabati Foods Global Inc, Vendasta Technologies Inc and Thinkific Labs Inc.
Thinkific Labs Inc
Thinkific Labs officially joined the queue for a public listing after it filed its preliminary prospectus for an IPO on March 23, seeking a listing on the Toronto Stock Exchange (TSX).
©Kalkine Group 2020
The Vancouver-based company provides a cloud-based software platform that allows businesses and individuals to make and market personalized online courses. It is said to have raised some $22 million in a round of venture capital funding last September led by Canadian investor Rhino Ventures, as per Crunchbase.
Thinkific’s IPO prospectus reveals that the company’s revenue grew from US$ 9.8 million in 2019 to about US$ 21 million in 2020, while its operating costs shot up to US$ 18.1 million in 2020 from US$ 7.4 million the previous year.
Thinkific’s paid user base has also reportedly surged to hit a total of nearly 25,000 customers last year, as per its prospectus.
Vendasta Technologies Inc
Vendasta Technologies revealed in a release in March that it plans to raise about C$ 100 million from its IPO, where it will be offering between 6.3 million and 7.1 million shares at a price range of C$14 to C$16 apiece. It is also offering a month-long over-allotment option to its underwriters to buy up to an additional 15 per cent of its shares at the same IPO price.
The Saskatoon-based firm, like Thinkific, is also looking to get listed on the TSX under the ticker of ‘VND’. The company announced a “roadshow” to attract investors late in March.
Vendasta, which focuses on the development of software tools for third-party business, said in its filings that it plans to use the capital raised from its IPO to strengthen its monetary position.
Nabati Foods Global Inc
Nabati Foods Global Inc, which produces plant-based meat, recently raised C$ 7.7 million in a private placement financing where it sold 15 million special warrants for C$ 0.05 apiece. This capital is said to be earmarked for its public listing expenses, market expansion and long-term goals.
©Kalkine Group 2020
Once known as ‘Nabati Foods Inc’, the vegan food manufacturer is undergoing some restructuring ahead of its IPO, part of which was changing its name to Nabati Foods Global.
The company is also reportedly shifting its headquarters from Edmonton, where it was established in year 2014, to the city of to Vancouver.
Instead of TSX, Nabati is looking to list its stocks on the Canadian Stock Exchange (CSE).
