07:40:33 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 113,511,468
Close 2017-07-04 C$ 5.34
Market Cap C$ 606,151,239
Recent Sedar Documents

Globe says SPACs find new life with Canaccord Genuity

2017-07-05 07:05 ET - In the News

The Globe and Mail reports in its Wednesday, July 5, edition that Canaccord Genuity Group on Monday launched a special purpose acquisition corporation (SPAC) meant to pave the way for small Canadian companies to go public. The Globe's Andrew Willis writes that Canaccord is attempting to raise $30-million for a SPAC that would acquire an interest in a private company valued at $50-million to $250-million. This SPAC is meant to be a substitute for an initial public offering, as in recent years, IPOs have proved difficult for relatively small private companies that are attempting to raise less than $100-million. If this concept is successful, Canaccord plans to roll out additional SPACs of similar size. Canaccord is not targeting a specific industry or region with this SPAC -- the strategy is to simply find a private business that would benefit from being a public company. The investment bank is investing $2.5-million of its own capital in the SPAC and selling units at $3 each. Separately, veteran private-equity investor Daniel Klass and former CIBC executive Jill Denham joined Monday to launch a $90-million tech-focused SPAC called Software Platform Partners.

© 2024 Canjex Publishing Ltd. All rights reserved.