Offering of 4.6 million common shares
Our attorneys advised cloud-based invoice presentment and payment provider VersaPay Corporation on its short-form prospectus offering of 4.6 million common shares. The offering, which closed May 9, was underwritten by a syndicate of underwriters led by Haywood Securities Inc. and includes Cormark Securities Inc. and PI Financial Corp.
Toronto-headquartered VersaPay was founded in 2006 and went public in 2010. With additional operations in Montreal, VersaPay serves businesses of all sizes with its ARC software-as-a-service offering that allows businesses to deliver customized electronic invoices through a self-service portal. Net proceeds from the offering will be used for working capital and general corporate purposes, including sales, marketing and research and development.