Tucows Files Final Prospectus
Friday, August 12, 2005
Tucows Inc. (OTC BB: TCOW), a provider of Internet services and downloadable software to end-users, has filed a final prospectus in connection with its initial public offering and a concurrent secondary offering on the Toronto Stock Exchange (TSX) and the American Stock Exchange (AMEX).
The offerings being priced at US $0.90 per share will consist of 401,173 shares of common stock issued from Tucows treasury and a further 21,823,827 shares of common stock sold by STI Ventures N.V., Parman Holding Corp. and Scorpio (BSG) Ltd.
Desjardins Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., and Clarus Securities Inc. act as the offering underwriters.
Tucows has granted the underwriters an over-allotment option, exercisable for a period of 30 days from the date of closing of the offering, to purchase up to a total of 2,889,250 additional shares of common stock from Tucows on the same terms.
The Toronto Stock Exchange and the American Stock Exchange have conditionally approved the listing of Tucows’ shares, with the ticker symbol "TC" for the Toronto Stock Exchange and the symbol "TCX" for the American Stock Exchange.
The offerings expect to close on August 19, 2005.
STI Ventures N.V. of Amsterdam, The Netherlands, Parman Holding Corp. of Geneva, Switzerland, and Scorpio (BSG) Ltd. of Harzlyiah, Israel currently owns 17,545,836 (25%), 7,405,620 (10.9%), and 575,181 common shares of Tucows respectively. Following the completion of the offerings, STI Ventures and Scorpio (BSG) will hold no shares in Tucows while Parman Holding will see its Tucows holdings reduced by 50%.
Tucows's principal shareholders include Eurocom Communications Ltd. of Ramot-Gan, Israel, Diker GP, LLC of New York, and Hapoalim Nechasim (Menayot) Ltd. of Tel Aviv, Israel with 8.2%, 7.65, and 5.1% interest in Tucows respectively.
Source:
http://www.techfinance.ca
