On November 10, 2021, E Automotive Inc. d\/b\/a E Inc. (\u201cE Inc.\u201d) (TSX:EINC), which goes to market under the brands EBlock and EDealer, announced the completion of its initial public offering (the \u201cOffering\u201d) of 5,900,000 common shares at a price of C$23.00 per share for gross proceeds of C$135,700,000. The Offering was upsized from an initial size of C$125,000,000 as a result of excess demand. The Offering was made through a syndicate of underwriters led by Canaccord Genuity Corp., CIBC Capital Markets and National Bank Financial Inc. as lead underwriters, and Scotiabank, Eight Capital, ATB Capital Markets Inc. and Laurentian Bank Securities Inc. (collectively with the lead underwriters, the \u201cUnderwriters\u201d).<\/p>\n
The Underwriters have also been granted an over-allotment option (the \u201cOver-Allotment Option\u201d) to purchase up to an additional 885,000 common shares at a price of C$23.00 per share for additional gross proceeds of C$20,355,000 if the Over-Allotment Option is exercised in full.<\/p>\n
E Inc.\u2019s mission is to optimize the online vehicle buying, selling, and management experience for automotive dealers and consumers. E Inc. has a digital platform that provides automotive dealerships with access to an online wholesale auction marketplace where they can purchase or sell vehicles to other dealers, as well as access innovative software solutions to support dealers\u2019 digital retailing and inventory management.<\/p>\n
Miller Thomson advised the Underwriters with a team comprised of Lawrence Wilder, Adam Kline, Jonathan Tong, Abid Ahmed and Brandon Meyer (Capital Markets & Securities); and Karen Durell (IP).<\/p>\n","protected":false},"author":1,"template":"","class_list":["post-3879","deals-cases","type-deals-cases","status-publish","hentry"],"acf":[],"yoast_head":"\n