Sangoma Technologies Corporation Completes $81 Million Upsized Underwritten Public Offering

July 30, 2020

Sangoma Technologies Corporation (TSXV:STC), a trusted leader in value-based Unified Communications (UC) and UC as a service solution for small and medium businesses, enterprises, original equipment manufacturers, carriers and service providers, completed an underwritten prospectus supplement offering of 35,006,000 common shares at a price of $2.30 per share for aggregate gross proceeds of approximately $81 million, including shares sold pursuant to the exercise in full of the underwriters' over-allotment option.  The offering was conducted by a syndicate of underwriters led by Cormark Securities Inc. and included Acumen Capital Finance Partners Limited, PI Financial Corp., CIBC World Markets Inc., INFOR Financial Inc., Beacon Securities Limited and Canaccord Genuity Corp.

Wildeboer Dellelce LLP acted for Sangoma in connection with the offering with a team comprised of Charlie Malone, Ragu Anantharajah, Joel Fraser and Jeff Arnold (corporate/securities), and Katy Pitch (tax).