MONTREAL, Sep 16, 2020 (GLOBE NEWSWIRE) – Nuvei Corporation (Nuvei or the Company) announced today that it has obtained a receipt for its final base PREP prospectus filed with the securities authorities of each of the provinces and territories of Canada and entered into a bought deal agreement with respect to its initial public offering consisting of a cash offer by the Company and a secondary offer by certain funds managed by Novacap Management Inc. (the selling shareholders) of a total of 26,923,077 Subordinate Voting Shares of the Company priced at $ 26 per share, above the initial marketing range of $ 20 to $ 22 per share, for aggregate gross proceeds of $ 700 million, the Company and the selling shareholders receiving gross proceeds of USD 625 million and USD 75 million, respectively. The offer is expected to close on September 22, 2020, subject to customary closing conditions.
The Toronto Stock Exchange (TSX) has conditionally approved the listing of the Subordinate Voting Shares of Nuveis, subject to compliance with customary listing requirements. The shares are expected to begin trading on the TSX on an “if, as issued” basis on September 17, 2020 in Canadian dollars under the symbol NVEI and in US dollars under the symbol NVEI.U.
The offering is being made through a syndicate of underwriters led by Goldman Sachs Canada Inc., Credit Suisse Securities (Canada), Inc., BMO Capital Markets and RBC Capital Markets, as joint active bookkeepers, and Citigroup Global Markets Canada Inc. and Merrill Lynch Canada Inc., as bookkeepers, and National Bank Financial Inc., Scotiabank, TD Securities Inc., CIBC Capital Markets, Raymond James Ltd., Cowen and Company , LLC, Stifel Nicolaus Canada Inc. and William Blair & Company, LLC
The Company has also granted the underwriters an over-allotment option allowing them to purchase up to 4,038,462 additional subordinate voting shares from the treasury at the offering price for additional gross proceeds of US $ 105 million for the company if the option is fully exercised. The over-allotment option can be exercised for a period of 30 days from the closing date of the offer.
A copy of the PREP prospectus completed by Nuveis will be available on SEDAR at www.sedar.com on September 17, 2020.
No securities regulatory authority has approved or disapproved of the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy securities of the Company in any jurisdiction where such an offer, solicitation or sale would be illegal. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the US Securities Act), or any United States securities law and may not be offered or sold in the States. United, except in accordance with the registration requirements of the US Securities Act and applicable US securities laws or as an exemption therefrom.
We are Nuvei, the payment technology partner of successful brands. We provide the intelligence and technology businesses need to succeed locally and globally, through integration that propels them further, faster. Combining payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform offers direct connections to all major payment card systems around the world, supports 450 local and alternative payment methods (assuming Companys’ successful acquisition of Coperatieve Vereniging Smart2Pay Global Services UA) and nearly 150 currencies. Our goal is to make our world a local market.
This press release contains forward-looking information within the meaning of applicable securities laws, including statements regarding the closing of the initial public offering of Nuveis. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the control of the Company, which could cause actual results to differ materially from those disclosed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, those described under Risk Factors in Nuveis’ final PREP base prospectus. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based on what management considers reasonable assumptions, you are cautioned not to place undue reliance on such information, as actual results may differ from forward-looking information. Unless otherwise indicated or the context indicates otherwise, forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or modify such forward-looking information. whether as a result of new information, future events or otherwise, except as required by applicable law.
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