Business
Hostopia Announces Exercise of Over-allotment Option in Initial Public Offering
Hostopia Announces Exercise of Over-allotment Option in Initial Public Offering.
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"\n\n\n\nTORONTO, and FT. LAUDERDALE, FL, Dec. 7 /CNW/ - Hostopia.com Inc. (TSX:\nH), announced today that it has issued an additional 630,000 shares of its\ncommon stock pursuant to the exercise of the over-allotment option granted to\nthe underwriters pursuant to the Company's initial public offering.\n\n\nNet proceeds for Hostopia from the exercise of the over-allotment option,\nafter fees, will be approximately C$3.53 million. In total, including the\nover-allotment shares, the Company has sold 4,830,000 shares of the Company's\ncommon stock at C$6.00 per share for gross proceeds of approximately\nC$29.0 million before underwriting fees and other costs.\n\n\nRBC Dominion Securities acted as lead underwriter of a syndicate that\nincluded TD Securities, GMP Securities, and Haywood Securities.\n\n\nHostopia intends to use the net proceeds of its offering to invest in its\napplication delivery platform, expand its portfolio of web services, expand\ntheir presence in the U.K market, and for general corporate purposes.\n\n\nA final prospectus has been filed with applicable Canadian securities\nauthorities and is available on www.sedar.com. A registration statement\nrelating to these securities has been filed with, and declared effective by,\nthe United States Securities and Exchange Commission. This announcement shall\nnot constitute an offer to sell or the solicitation of an offer to buy the\ncommon stock of Hostopia.com, nor shall there be any sale of these securities\nin any state or jurisdiction in which such offer, solicitation or sale would\nbe unlawful prior to registration or qualification under the securities laws\nof any such state or jurisdiction. Copies of the final prospectus may be\nobtained by US residents by submitting a written request by facsimile to RBC\nCapital Markets at (212) 428-6260.\n\n\nAbout Hostopia\n\n\nHostopia is a leading provider of web services that enable small and\nmedium-sized businesses to establish and maintain an internet presence. The\ncompany's customers are communication services providers, including\ntelecommunication carriers, cable companies, internet service providers,\ndomain registrars, and web hosting service providers.\n\n\nHostopia's customers purchase its web services on a wholesale basis and\nresell these services under their own brands to small and medium-sized\nbusinesses. The...