This past Thursday, Spin Master Corp. completed its public offering of 12,225,000 subordinate voting shares at a price of C$18.00 per subordinate voting share. The offering raised total gross proceeds of C$220,050,000. The subordinate voting shares will commence trading today on the Toronto Stock Exchange under the symbol TOY.
The offering was made through a syndicate of underwriters, including RBC Capital Markets and TD Securities Inc. as co-lead underwriters and joint bookrunners, as well as CIBC World Markets Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., HSBC Securities (Canada) Inc., Barclays Capital Canada Inc., GMP Securities L.P., Cormark Securities Inc., and Dundee Securities Ltd.
Spin Master has granted to the underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days following the closing of the offering, to purchase up to an additional 1,833,750 subordinate voting shares at the offering price for additional gross proceeds of C$33,007,500 if the option is exercised in full.
Pursuant to a reorganization transaction completed in connection with the offering, the company’s founders—Ronnen Harary, Anton Rabie, and Ben Varadi—each became the beneficial owner of multiple voting shares of the company upon exchange of the founders’ prior holdings in the company and its predecessors.