/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
TORONTO, April 15, 2014 /CNW/ - Callidus Capital Corporation
("Callidus"), a provider of flexible and innovative asset-based loans,
is pleased to announce that it has filed a final prospectus with the
securities regulatory authorities in each of the provinces and
territories of Canada, in connection with its initial public offering
(the "Offering") of 18,000,000 common shares, at a price of $14.00 per
common share. The Offering will result in aggregate gross proceeds of
The Offering is being made through a syndicate of underwriters led by
Canaccord Genuity Corp. and including CIBC World Markets Inc., TD
Securities Inc., National Bank Financial Inc., GMP Securities L.P.,
Desjardins Securities Inc., and Dundee Securities Ltd. (collectively,
The Underwriters have been granted an over-allotment option to purchase
up to an additional 2,700,000 common shares from Callidus at a price of
$14.00 per share. If the over-allotment is exercised in full, the
aggregate gross proceeds to Callidus under the Offering will increase
to $289.8 million. The over-allotment option can be exercised for a
period of 30 days from the closing date of the Offering.
Callidus has received conditional approval for the listing of its common
shares on the Toronto Stock Exchange (the "TSX"), subject to the
fulfillment of all of the listing requirements of the TSX. The common
shares will be listed for trading on the Toronto Stock Exchange under
the symbol "CBL" and trading will begin after the closing of the
Offering, which is scheduled to take place on or about April 23, 2014,
subject to customary closing conditions.
This Offering is only made by prospectus. The prospectus contains
important detailed information about the securities being offered.
Copies of the prospectus may be obtained from any of the Underwriters
named above. Investors should read the prospectus before making an
No securities regulatory authority has either approved or disapproved
the contents of this press release. This press release does not
constitute an offer to sell or a solicitation of an offer to buy any
securities of Callidus Capital Corporation in any jurisdiction in which
such offer, solicitation or sale would be unlawful. These securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended or any U.S. state securities law and
may not be offered or sold in the United States except in compliance
with the registration requirements of said Act and applicable U.S.
state securities laws or pursuant to an exemption therefrom.
About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation is a Canadian company
that specializes in innovative and creative financing solutions for
companies that are unable to obtain adequate financing from
conventional lending institutions. Unlike conventional lending
institutions who demand a long list of covenants and make credit
decisions based on cash flow and projections, Callidus credit
facilities have few, if any, covenants and are based on the value of
the company's assets, its enterprise value and borrowing needs.
Callidus employs a proprietary system of monitoring collateral and
exercising control over the cash inflow and outflows of each borrower,
enabling Callidus to very effectively manage any risk of loss.
Certain statements made herein contain forward-looking information,
including statements concerning the commencement of trading of the
common shares, the closing date of the Offering and the exercise of the
Over-Allotment Option. Although Callidus believes these statements to
be reasonable, the assumptions upon which they are based may prove to
be incorrect. Furthermore, the forward-looking statements contained in
this press release are made as at the date of this press release and
Callidus does not undertake any obligation to update publicly or to
revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be
required by applicable securities laws.
SOURCE: Callidus Capital Corporation
For further information:
Chief Operating Officer