Descartes Makes Public Offering

Descartes Makes Public Offering

Proceeds of the offering will be used for potential future acquisitions and debt payments.

Descartes Systems Group, a transportation management system provider, announced the commencement of a marketed, underwritten public offering of 9,500,000 common shares. The underwriters will also have the option, at any time not later than the 30th day after the filing of the final prospectus supplement, to purchase up to 1,425,000 additional Common Shares on the same terms and conditions, to cover their over-allocation position, if any.

Completion of the offering is subject to market conditions and approval by the Toronto Stock Exchange. Descartes intends to use the net proceeds of the offering for general corporate purposes, including as an available source of funding for potential future acquisition opportunities, as well as for possible repayment of outstanding indebtedness under its revolving debt facility.

The offering is being made through an underwriting group co-led by Morgan Stanley, Barclays and GMP Securities L.P., who are acting as joint book-running managers of the offering and as representatives of the underwriters, which include Canaccord Genuity Corp., TD Securities Inc., William Blair & Company LLC and Raymond James Ltd.

 

 

 

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