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ATS Announces Initial Public Offering in the United States
ATS Announces Initial Public Offering in the United States Canada NewsWire ...
About this update from Ats Corporation
[{"type":"text","content":"\n \n \n \n ATS Announces Initial Public Offering in the United States\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CAMBRIDGE, ON\n \n \n ,\n \n \n May 23, 2023\n \n \n /CNW/ - ATS Corporation (TSX: ATS) (\"ATS\" or the \"Company\"), an industry-leading automation solutions provider, today announced the launch of a public offering of ATS' Common Shares (\"Common Shares\") in\n \n the United States\n \n and\n \n Canada\n \n , representing ATS' initial public offering in\n \n the United States\n \n .\n \n \n \n \n \n \n \n \n \n In connection with the initial public offering of the Common Shares in\n \n the United States\n \n , ATS has filed an application to list the Common Shares on the New York Stock Exchange (\"NYSE\") under the symbol \"ATS\". Trading of the Common Shares is expected to commence on the NYSE following pricing of the offering. The Common Shares will continue to trade on the Toronto Stock Exchange (the \"TSX\") under the symbol \"ATS\".\n \n \n A total of 6,000,000 Common Shares will be offered for sale by the Company in the offering, which will be conducted through a syndicate of underwriters led by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as joint active bookrunners. TD Securities Inc. is also acting as bookrunner in connection with the offering. 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.\n \n \n The Company will grant the underwriters an over-allotment option, exercisable for a period of 30 days from the date of the underwriting agreement, to purchase up to an additional 900,000 Common Shares, representing up to 15% of the total number of Common Shares to be sold pursuant to the offering.\n \n \n ATS expects that the net proceeds of the offering will be used for strategic opportunities, including acquisitions, as well as working capital requirements and general corporate purposes. Consistent with ATS' value creation strategy, ATS may exe...