/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
OTTAWA, May 16, 2013 /CNW/ - Halogen Software Inc. ("Halogen" or the "Company"), a leading provider of cloud based talent
management solutions, announced today that it has completed its initial
public offering (IPO) and secondary offering of its common shares (the
"Offering"). Halogen's common shares will begin trading today on
the Toronto Stock Exchange under the symbol "HGN".
"We're very proud to have completed our IPO so successfully, especially
with such strong interest and support from the investment community,"
said Halogen's executive chairman and co-founder, Michael Slaunwhite.
"This is an important milestone for us, one that will accelerate our
position as a leading global provider of talent management software
solutions for mid-market organizations."
Pursuant to the Offering, Halogen issued 4,365,218 common shares at a
price of $11.50 for total gross proceeds to Halogen of just over $50
million. In addition, 434,782 common shares were sold by JMI Equity
Fund VI, L.P. (the "Selling Shareholder") at a price of $11.50 per
share, for total gross proceeds to the Selling Shareholder of
approximately $5 million.
"This is truly an exciting day for Halogen and I'm extremely proud of
our employees and their contribution to our success," said Paul Loucks,
Halogen's CEO. "This transaction enables us to grow our operations,
invest in product development, and strengthen our balance sheet. More
importantly - it enables us to expand upon what we do best — which is
helping our customers build exceptional workforces."
"While the market for talent management software solutions is large and
growing, the mid-market is still underserved," continued Mr. Loucks.
"This is a $15 billion annual total addressable market. Our powerful,
organically-built suite of cloud applications, combined with our
go-to-market strategy and focus on world-class customer service, have
made us a recognized leader in the mid-market; a great foundation to
The Offering was underwritten by a syndicate of underwriters co-led by
Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc., and including
Raymond James Ltd., Cantor Fitzgerald Canada Corporation and National
Bank Financial Inc. (collectively, the "Underwriters"). The Company has
granted the Underwriters an over-allotment option, exercisable in whole
or in part at any time for a period of 30 days following the closing of
the Offering, to purchase, in aggregate, up to an additional 720,000
common shares at a price of $11.50 per share.
Osler, Hoskin & Harcourt LLP acted as legal counsel to Halogen and
LaBarge Weinstein LLP acted for the Underwriters.
A copy of Halogen's final prospectus is available on SEDAR (www.sedar.com).
About Halogen Software
Halogen Software offers an organically built cloud-based talent management suite that reinforces and drives higher employee performance across all
talent programs - whether that is recruiting, performance management,
learning and development, succession planning or compensation. With
over 1,750 customers worldwide, Halogen has been recognized as a market
leader by major business analysts and has garnered the highest customer
satisfaction ratings in the industry. Halogen Software's powerful,
yet simple-to-use solutions, which also include industry-vertical
offerings, are used by organizations that want to build a world-class
workforce that is aligned, inspired and focused on delivering
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 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 jurisdiction.
SOURCE: HALOGEN SOFTWARE
For further information:
T: 1-416-815-0700 ext. 251
Toll Free: 1-800-385-5451 ext. 251