Canaccord Genuity Growth II Corp. completes C$100M initial public offering
April 05, 2019
100.00 Million CAD
On April 5, 2019, Canaccord Genuity Growth II Corp. ("CGGC II ") completed its C$100 million initial public offering. The sponsor of CGGC II is CG Investments Inc. III ("CGIII"), a wholly-owned subsidiary of Canaccord Genuity Group Inc. and an affiliate of Canaccord Genuity Corp. The proceeds from the offering were deposited into an escrow account pending completion of a qualifying transaction and will only be released under certain prescribed conditions.
The offering was distributed by a syndicate of underwriters co-led by Canaccord Genuity Corp. and Cormark Securities Inc. and including Eight Capital.
CGGC II is a special purpose acquisition corporation managed by an affiliate of Canaccord Genuity Group Inc. CGGC II is incorporated for the purpose of effecting an acquisition of one or more business assets by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination. The company will focus on acquiring cannabis companies with an aggregate enterprise value between C$100 million and C$1 billion.
McCarthy Tétrault LLP advised the underwriters with a team led by Andrew Armstrong that included Rami Chalabi and Andrea Kareclas (Business).