Montreal jet-ski maker Taiga to go public via Canaccord SPAC
Kevin Orland, Bloomberg News Taiga jet ski , Screengrab courtesy of taigamotors.ca
Electric jet-ski maker Taiga Motors plans to go public via a merger with a blank-check company sponsored by Canaccord Genuity Group Inc., taking advantage of investor demand for companies that can burnish their environmental credentials.
Montreal-based Taiga will have an implied market capitalization of about $537 million (US$422 million) after the combination with the Canaccord Genuity Growth II Corp. special purpose acquisition corporation, the companies said Wednesday. That valuation includes a $100 million private placement with investors including John Risleyâs Northern Private Capital.
APPENDIX - TERMS AND CONDITIONS OF THE PLACING
IMPORTANT INFORMATION FOR INVITED PLACEES ONLY REGARDING THE PLACING.
THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, THE REPUBLIC OF IRELAND, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY THE LONDON STOCK EXCHANGE, NOR IS IT INTENDED THAT IT WILL BE SO APPROVED.
MEMBERS OF THE PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS DIRECTED ONLY AT:
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Proceeds to be used to fund a return of capital from the UK Wealth Management division to Canaccord Genuity Group Inc.
TORONTO, Feb. 3, 2021 /PRNewswire/ - Canaccord Genuity Group Inc. (TSX:CF), (the Company ) announces that HPS Investment Partners, LLC ( HPS ), on behalf of investment accounts and funds it manages has agreed to invest in the Company s UK wealth management division. Subject to regulatory approval and other customary closing conditions, HPS will acquire Convertible Preferred Shares (the Convertible Preferred Shares ) in the amount of £125 million (C$219 million
1) to be issued by Canaccord Genuity Wealth Group Holdings (Jersey) Limited ( CGWM UK ), the parent company of the Company s wealth management operating subsidiaries in the UK, the Channel Islands and in the Isle of Man (the Transaction ).
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TORONTO, Feb. 3, 2021 /PRNewswire/ - Canaccord Genuity Group Inc. (Canaccord Genuity Group, the Company) (TSX: CF) today announced its financial results for the third fiscal quarter ended December 31, 2020. Our business is performing in accordance with our stated strategy of providing a sustainable and growing earnings base from our wealth management operations, with significant upside during periods of capital markets strength, said Dan Daviau, President & CEO of Canaccord Genuity Group Inc. In our third fiscal quarter, we earned our strongest quarterly revenue on record and set new performance records in several businesses and verticals, entrenching our position as a leading mid-market investment bank and wealth management firm in each of our geographies.
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