The Kitchener, Ont.-based edtech company, formerly called Desire2Learn, wants to trade under the symbol DTOL, and did not disclose in its preliminary prospectus how much it is looking to raise. It plans to use about $20 million from a secondary offering to repay D2L for a shareholder loan. (The Logic)

Talking point: CEO John Baker founded the company, which runs a cloud-based software platform for in-person and online courses, in 1999. The pandemic “acted as a catalyst” for the adoption of online and hybrid learning, D2L said in its prospectus, and the company’s customer base grew 33 per cent last year. “We are still in the opening act,” Baker said in a letter included in the prospectus. D2L is not yet profitable, reporting losses for the financial years ending Jan. 31, 2019 to 2021. It wants to use the proceeds from its IPO to strengthen its balance sheet, improve its product and expand into new markets, among other growth plans. It’s been a busy time for Canadian tech firms on the public markets. Vancouver’s Copperleaf soared in its public debut with an upsized offering, Toronto’s Q4 restarted its IPO plans and Montreal’s Sharethrough filed to go public all last week.