DataWind, Canadian Maker of Ultra-Cheap Tablets, Goes Public on Toronto Stock Exchange

Posted by Techvibes NewsWire

DataWind is pleased to announce that it has successfully completed its initial public offering of 6,316,000 common shares of the Company at a price of CAN$4.75 per Common Share for gross proceeds of CAN$30,001,000 to DataWind. The Company's Common Shares will begin trading today on the Toronto Stock Exchange under the symbol "DW."

The Offering was made through a syndicate of underwriters led by Canaccord Genuity Corp. and including National Bank Financial Inc., Cormark Securities Inc. and Haywood Securities Inc.. The Underwriters have been granted an over-allotment option to purchase up to an additional 947,400 Common Shares from the Company at a price of CAN$4.75 per Common Share for additional gross proceeds of CAN$4,500,150 if the Over-Allotment Option is exercised in full. The Over-Allotment Option is exercisable for the period of 30 days from the closing of the Offering.

Osler, Hoskin & Harcourt LLP acted as Canadian legal counsel to DataWind and Borden Ladner Gervais LLP acted as Canadian legal counsel to the Underwriters.

DataWind is a leader in low-cost Internet connectivity for emerging markets. DataWind's mission is to bring the Internet, which has the ability to create tremendous social and economic benefits, to billions of unconnected people in the developing world. The Company's Internet Delivery Platform offers a low-cost Internet browsing solution by bundling an affordable tablet device with an inexpensive, pre-paid, 2G Internet service plan.

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Company:
Datawind
Website:
http://www.datawind.com
Location:
Montréal, Québec, Canada

DATAWIND is a leading provider of wireless web access products and services. Based on several international patents, DATAWIND’s breakthrough technologies solve the bandwidth limitations of cellular networks by accelerating content delivery by factors of 10x to 30x – resulting in a superior mobile web experience at a lower cost. Most recently, DATAWIND’s Aakash/UbiSlate tablets have received worldwide attention, as... more


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Techvibes NewsWire

Techvibes NewsWire

Techvibes is Canada's leading technology media property. Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes NewsWire publishes the press releases of leading technology companies. Content distributed by NewsWire is sponsored. If... more




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