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MONTREAL, Dec. 18, 2020 /CNW Telbec/ - Haivision Systems Inc. ("Haivision" or the "Company"), a leading provider of mission-critical, real-time video streaming and networking solutions, announced today that further to its recently completed initial public offering (the "Offering") of 5,000,000 common shares at a price of C$6.00 per share, the over-allotment granted to the underwriters under the Offering to purchase up to an additional 750,000 common shares at a price of C$6.00 per share (the "Over-Allotment Option") was exercised in full, for additional gross proceeds to Haivision of C$4,500,000. The sale of the additional common shares increases the total gross proceeds of the Offering to C$34,500,000. Following the closing of the Over-Allotment Option, there are 26,612,019 common shares issued and outstanding.
"We are very pleased with the stock performance during the first two days following our initial public offering. This validates Haivision's strong business fundamentals and experienced management team and the growth potential of the global IP Video streaming market," said Mirko Wicha, President and CEO of Haivision.
The common shares of the Company began trading on the Toronto Stock Exchange on December 16, 2020 under the symbol "HAI".
The Offering was made through a syndicate of underwriters led by Canaccord Genuity Corp. and Desjardins Capital Markets, as lead underwriters and joint bookrunners, and including BMO Nesbitt Burns Inc., Scotia Capital Inc. and Beacon Securities Limited.
No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Haivision in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Haivision is a leading provider of mission-critical, real-time video streaming and networking solutions. Our connected cloud and intelligent edge technologies enable global organizations to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded an Emmy® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, including, without limitation, statements regarding the growth potential of the global IP Video streaming market. Forward-looking statements can, but may not always, be identified by the use of words such as "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "would", "should", "believe", and similar references to future periods or the negatives of these words and expressions. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that the Company considered appropriate and reasonable as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the risk factors identified under "Risk Factors" in the Company's final prospectus dated December 9, 2020, and in other filings that the Company has made and may make in the future with applicable securities authorities, all of which are available under the Company's SEDAR profile at www.sedar.com. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents the Company's expectations as of the date hereof (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
SOURCE Haivision Systems Inc.
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