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KITS Eyecare Ltd. Closes $55 million Initial Public Offering and Announces Listing on the TSX
KITS Eyecare Ltd. Closes $55 million Initial Public Offering and Announces Listing on the...
About this update from Kits Eyecare Ltd.
[{"type":"text","content":"\n \n \n \n KITS Eyecare Ltd. Closes $55 million Initial Public Offering and Announces Listing on the TSX\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 NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n /\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 19, 2021\n \n /CNW/ - KITS Eyecare Ltd. (TSX: KITS) (\"KITS\" or the \"Company\") is pleased to announce that it has completed its oversubscribed and upsized initial public offering (the \"IPO\") and listing on the Toronto Stock Exchange (\"TSX\"). The IPO consisted of the issuance of 6,470,588 common shares of the Company (the \"Shares\") at a price of\n \n $8.50\n \n per Share (the \"Offering Price\") for gross proceeds of\n \n $55,000,000\n \n . KITS' Shares are expected to commence trading today on the TSX under the symbol \"KITS\".\n \n \n \n \n \n \n \n \n \n KITS is led by an experienced management team consisting of\n \n \n Roger Hardy\n \n \n ,\n \n Sabrina Liak\n \n , and\n \n \n Joseph Thompson\n \n .\n \n Mr. Hardy was the previous founder of several revolutionary brands of eyewear including Clearly.ca, Coastal.com and Lensway.se which were acquired by Essilor in 2014. Most recently he was an investor and board member of sunglasses brand PriveRevaux.com which was acquired in February by Safilo. Ms. Liak brings over a decade of experience with Goldman Sachs to drive the financial operations of KITS while Mr. Thompson, previously with Procter & Gamble before refining his ecommerce expertise with Amazon, oversees the company's day to day operations.\n \n \n \"Completing this IPO is a significant milestone for KITS and a testament to the hard work of our entire team,\" said\n \n Roger Hardy\n \n , Chairman and CEO of KITS. \"We were encouraged by the strong response to our IPO which is a validation of our platform and strategy and allowed us to upsize our offering. The proceeds raised from this listing place us in a strong fina...