Quisitive Completes $62.6 Million Financing Transactions in connection with the Proposed Acquisition of BankCard USA

April 08, 2021

Quisitive Technology Solutions, Inc. (TSXV:QUIS), a premier Microsoft solutions provider, completed a public offering of 38,410,000 subscription receipts (the “Subscription Receipts”) at a price of $1.50 per Subscription Receipt (the “Offering Price”) for aggregate gross proceeds of approximately $57.6 million (the “Offering”) and a concurrent private placement of 3,333,333 Subscription Receipts at the Offering Price for gross proceeds of $5 million (the “Concurrent Private Placement”).

The Offering and Concurrent Private Placement were completed in connection with the proposed acquisition by Quisitive of BankCard USA Merchant Services, Inc., an established all-in-one merchant payment services provider.

The Offering was conducted by a syndicate of underwriters co-led by Scotiabank, Eight Capital, Canaccord Genuity Corp, (collectively the “Joint Bookrunners”) and Desjardins Securities Inc., and including Raymond James Ltd., Echelon Wealth Partners Inc., and Beacon Securities Limited (collectively, with the Joint Bookrunners, the “Underwriters”).

Wildeboer Dellelce LLP acted for the Underwriters in connection with the Offering with a team that consisted of Perry Dellelce, James Brown, Sanjeev Patel, Niall Sweeney and Julian Lupo (corporate/securities) and Katy Pitch (tax).