The Toronto-based telemedicine startup, which provides online mental health therapy services, is targeting a $50-million raise in its upcoming public debut on the TSX, according to The Globe and Mail. TD Securities and Credit Suisse Securities are lead underwriters of the IPO, with Bloom Burton & Company as well as Canaccord Genuity also part of the underwriting syndicate. (The Globe and Mail)
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The Toronto-based telemedicine startup, which provides online mental health therapy services, is targeting a $50-million raise in its upcoming public debut on the TSX, according to The Globe and Mail. TD Securities and Credit Suisse Securities are lead underwriters of the IPO, with Bloom Burton & Company as well as Canaccord Genuity also part of the underwriting syndicate. (The Globe and Mail)
Talking point: MindBeacon’s IPO will be the latest in a wave of tech companies taking advantage of the pandemic’s impact on the market. The company reportedly planned a $30-million private raise, but chose the public route after observing how successful startups like Nuvei and Dye & Durham performed in their TSX debuts over the summer. Last November, the company raised US$18 million in a Series A round led by Telus Ventures, Manulife and Green Shield, according to data from PitchBook. It expects its 2020 revenue to double to $9.4 million, and forecasts its revenue to double every year for the next three years. MindBeacon’s CEO Sam Duboc has been open about his struggles with depression in the past, which led him to get into the online mental health space.
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