The Toronto-based digital car-auction platform plans to price shares between $19 and $23 each, according to an updated prospectus, and will raise about $143.8 million if the over-allotment is exercised in full. (The Logic)
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The Toronto-based digital car-auction platform plans to price shares between $19 and $23 each, according to an updated prospectus, and will raise about $143.8 million if the over-allotment is exercised in full. (The Logic)
Talking point: Assuming a full over-allotment option at the midpoint price, the company’s market capitalization would be roughly $964 million. The company plans to use the funds to grow its U.S. presence and product offerings. E Automotive’s filing comes amid a busy time for Canadian tech firms on the public markets. It follows Sharethrough, D2L and Q4, the last of which resumed its IPO plans this fall. Vancouver-based Copperleaf, meanwhile, started trading in early October with an upsized offering, and its shares have continued to outperform their offering price.
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