Sangoma Technologies Corporation (“Sangoma” or the “Company“) (TSX: STC), a trusted leader in delivering cloud-based Communications-as-a-Service solutions, today announced the launch of a marketed public offering of Sangoma’s Common Shares (“Common Shares”) in the United States and Canada, representing Sangoma’s initial public offering in the United States.
In connection with the initial public offering of the Common Shares in the United States, Sangoma has filed an application to list the Common Shares on Nasdaq Global Select Market (“Nasdaq”) under the symbol “SANG”. Trading of the Common Shares is expected to commence on Nasdaq following pricing of the offering. The Common Shares will continue to trade on the Toronto Stock Exchange (the “TSX”) under the symbol “STC”.
A total of 5,500,000 Common Shares will be offered for sale by the Company in the offering, which will be conducted through a syndicate of underwriters led by Morgan Stanley, BMO Capital Markets, William Blair & Company, and Canaccord Genuity, as joint book-running managers, with Needham & Company as Lead Manager, and Cormark Securities and Northland Capital Markets as co-managers. The offering will be priced in the context of the market with terms, including price per share, to be determined at the time of entering into an underwriting agreement with the underwriters.