180 Connect Inc.
$45,617,600.00
5,702,200.00 Common Shares at $8.00
Initial Public Offering - Closed - Friday, April 23, 2004
Company Description
180 Connect is a growing provider of technical support services to the direct broadcast satellite and cable industries. The Corporation’s services include new installations, reconnections, disconnections, service upgrades and downgrades and service calls at the premises of subscribers of broadband video, data and voice technologies. Satellite and cable carriers use 180 Connect to make the connection between their network infrastructure and the equipment located at the premises of residential and commercial subscribers. 180 Connect’s largest customer is DIRECTV, Inc.
| Address: |
400, 609 - 14th Street N.W. Calgary, Alberta, T2N 2A1 Canada |
|---|---|
| Phone Number: | 954 678-3516 |
| Fax Number: | 954 489-9745 |
| Website: |
| Industry: | Networking |
|---|---|
| Closing Date: | Friday, April 23, 2004 |
| 1st Day of Trading: | Friday, April 23, 2004 |
| Primary Symbol: | NCT |
| Exchange: | Toronto |
Proceeds
The Corporation intends to invest the net proceeds of the Treasury Offering as follows: $10.0 million for disciplined strategic acquisitions; $1.7 million for expansion into new geographic areas; $3.0 million for the mandatory repayment of a portion of the Corporation’s outstanding indebtedness; and the balance for working capital and general corporate purposes.
| Gross Proceeds: | US $45,617,600.00 |
|---|---|
| Underwrting Fees: | US $2,737,056.00 |
| Expense Offering: | US $1,500,000.00 |
| Net Proceeds: | US $41,380,544.00 |
| Lead Underwriter: | BMO Nesbitt Burns Inc. |
|---|---|
| Other Underwriter(s): |
National Bank Financial Inc. GMP Securities Ltd. Research Capital Corporation |
Performance
| 1 day | 1 week | 1 month | 6 months | Inception | |
|---|---|---|---|---|---|
| Recent Performance | 0.00 % | 3.48 % | -4.42 % | 11.21 % | -70.25 % |
| Post IPO Performance | -3.13 % | -3.13 % | -30.00 % |
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