/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 27, 2013 /CNW/ - Baylin Technologies Inc. ("Baylin
Technologies" or the "Company") (TSX: BYL), a global provider of
innovative antenna solutions for the mobile, broadband and wireless
infrastructure markets, today announced that it has completed its
initial public offering (the "Offering"). Baylin Technologies' common
shares will begin trading today on the Toronto Stock Exchange under the
Pursuant to the Offering, the Company issued 6,253,125 common shares at
a price of $8.00 per share for total gross proceeds to Baylin
Technologies of $50.0 million, including the over-allotment, which was
fully exercised by the underwriters concurrently with the completion of
"Our company has a long track record of creating game-changing advances
in antenna technology," said Ephraim Ulmer, President and CEO of Baylin
Technologies. "I am confident that with our market-leading technology
and experienced technical and management team we can successfully
unlock the next chapter of growth for Baylin."
"We are very proud to have successfully completed our IPO, a key
milestone in our company's history," said Randy Dewey, Vice-Chairman of
Baylin Technologies. "Building on our 35-year history as an innovation
leader in the global antenna market, this IPO gives us the resources
and the platform to capitalize on strong underlying market trends for
our customized antenna technology."
The Offering was underwritten by a syndicate of underwriters co-led by
Paradigm Capital Inc. and Raymond James Ltd., and including Cormark
Securities Inc., Clarus Securities Inc., and M Partners Inc.
(collectively, the "Underwriters").
Norton Rose Fulbright Canada LLP acted as legal counsel to Baylin
Technologies and Osler, Hoskin & Harcourt LLP acted for the
A copy of Baylin Technologies' final prospectus is available on SEDAR (www.sedar.com).
Information for investors can be found by visiting baylintech.com.
Following completion of the Offering, 2385796 Ontario Inc. owns
10,721,291 common shares representing approximately 57% of the
outstanding common shares of the Company. The Chairman of Baylin
Technologies, Mr. Jeffrey C. Royer, exercises control and direction
over 2385796 Ontario Inc. 2385796 Ontario Inc. acquired such common
shares through the exchange of its Galtronics Corporation Ltd. ordinary
shares for common shares of Baylin Technologies pursuant to a
reorganization described in the Offering documents. 2385796 Ontario
Inc.'s head office is located at 200 Bay Street, Suite 3800, Royal Bank
Plaza, South Tower, Toronto, Ontario M5J 2Z4. 2385796 Ontario Inc.
holds such common shares for investment purposes and may increase or
decrease its ownership depending on market or other conditions.
About Baylin Technologies
Baylin (TSX: BYL) is a global provider of innovative antenna solutions
with 35 years of experience in designing, producing and supplying
antennas. We strive to meet customer needs by being their trusted
partner from initial design to production. Our antennas are custom
engineered to meet the specifications for our customers' mobile and
broadband devices and wireless infrastructure. Since our establishment
in 1978, our business has grown into an international platform with
operations in North America and Asia.
No securities regulatory authority has either approved or disapproved of
the contents of this news release. The securities being offered have
not been, and will not be, registered under the United States
Securities Act of 1933, as amended, or any state securities laws, and
may not be offered or sold in any state of the United States unless
pursuant to an exemption therefrom. This press release is for
information purposes only and shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
SOURCE: Baylin Technologies Inc.
For further information:
Investor Relations Contacts:
Aaron Kabucis, CFA
416.815.0700 x 230
416.815.0700 x 278